Binance has received court approval allowing it to invest customer fiat funds into US Treasury Bills (T-Bills) after a year of heightened scrutiny of Binance’s operations in the United States. The decision has resulted in a notable price recovery for the exchange’s native token, Binance Coin (BNB), pushing it toward the $600 level. Court Grants Relief To Binance BAM Subsidiary A court filing reveals that BAM Trading Services and BAM Management US Holdings, collectively known as BAM, filed a motion seeking relief from a consent order. The court, upon consideration of the motion, granted the requested relief. As a result, Binance’s US subsidiary, BAM, is now authorized to hire third-party investment advisors to manage corporate assets, paving the way for BAM to invest client fiat funds in US Treasury Bills. Related Reading: Market Strategist Says Bitcoin Downtrend Is Finally Over, Here’s Where Price Is Headed Next Under the court-approved arrangement, BAM can invest certain customer fiat funds, currently held at BitGo, in US Treasury bills on a rolling four-week basis. However, to ensure com ..
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