Binance Secures Approval To Invest US Customer Fiat Funds In US T-Bills, BNB Price Surges
Summary
Binance's US subsidiary, BAM, has been granted court approval to invest customer fiat funds in US Treasury Bills. This decision has led to a price recovery for Binance Coin (BNB), which is currently trading at $597. The court's decision also allows BAM to custody assets with non-affiliated third-party custodians and transfer assets to their wallets. BNB's price has risen over 5% on the news, with significant gains in the past two weeks, although it is still down 17% from its all-time high. The token has surpassed the 200-day exponential moving average, indicating potential further price appreciation.
