{"id":25510,"date":"2024-07-20T16:00:48","date_gmt":"2024-07-20T13:00:48","guid":{"rendered":"https:\/\/coinengineer.io\/?p=25510"},"modified":"2024-07-20T14:21:09","modified_gmt":"2024-07-20T11:21:09","slug":"binance-wins-in-us-can-use-customer-funds","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/binance-wins-in-us-can-use-customer-funds\/","title":{"rendered":"Binance Wins in US: Can Use Customer Funds"},"content":{"rendered":"<p>Binance.US has received court approval to invest in US Treasury bonds.<\/p>\n<p>The ruling was signed by US District Judge Amy Berman Jackson in Washington DC.<\/p>\n<p>According to the ruling, <a href=\"https:\/\/coinengineer.net\/blog\/spot-ether-etfs-unlikely-to-be-dramatic-but-would-get-steady-capital-binance-ceo\/\">Binance<\/a>.US will direct the assets of BAM Trading Services Inc. and BAM Management US Holdings Inc. with third-party investment advisors. Both entities operate in the US.<\/p>\n<p>Binance.US must also transfer its crypto assets to a third-party custodian unaffiliated with the exchange. BAM will be able to invest customer fiat funds held at BitGo in US Treasury bonds.<\/p>\n<p>However, these bonds must have a four-week maturity, Binance cannot be involved in the process in any way, and BAM must have enough money to meet customer withdrawal requests.<\/p>\n<p>Judge Jackson is overseeing the SEC&#8217;s lawsuit against Binance. The SEC last year accused Binance and its former CEO, Changpeng Zhao, of lying to customers, not restricting US investor access to Binance.com, channeling capital to separate investment funds owned by Zhao, and operating as an unregistered exchange. Zhao is currently in jail on charges brought by the Justice Department.<\/p>\n<p>Jackson largely rejected the SEC&#8217;s motion to dismiss its case against Binance last month, but did not accept some of the SEC&#8217;s claims that secondary sales of BNB were securities.<\/p>\n<p><em>You can freely share your thoughts and comments about the topic in the comment section. Additionally, please don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>Telegram<\/strong>,<\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>YouTube<\/strong><\/a>\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>.<\/em><\/p>\n<div class=\"kk-star-ratings kksr-auto kksr-align-center kksr-valign-bottom\" data-payload=\"{&quot;align&quot;:&quot;center&quot;,&quot;id&quot;:&quot;5212&quot;,&quot;slug&quot;:&quot;default&quot;,&quot;valign&quot;:&quot;bottom&quot;,&quot;ignore&quot;:&quot;&quot;,&quot;reference&quot;:&quot;auto&quot;,&quot;class&quot;:&quot;&quot;,&quot;count&quot;:&quot;0&quot;,&quot;legendonly&quot;:&quot;&quot;,&quot;readonly&quot;:&quot;&quot;,&quot;score&quot;:&quot;0&quot;,&quot;starsonly&quot;:&quot;&quot;,&quot;best&quot;:&quot;5&quot;,&quot;gap&quot;:&quot;5&quot;,&quot;greet&quot;:&quot;Rate this post&quot;,&quot;legend&quot;:&quot;0\\\/5 - (0 votes)&quot;,&quot;size&quot;:&quot;24&quot;,&quot;title&quot;:&quot;Bitstamp to Terminate its Canada Service in January!&quot;,&quot;width&quot;:&quot;0&quot;,&quot;_legend&quot;:&quot;{score}\\\/{best} - ({count} {votes})&quot;,&quot;font_factor&quot;:&quot;1.25&quot;}\">\n<div class=\"kksr-stars\">\n<div class=\"kksr-stars-inactive\">\n<div class=\"kksr-star\" data-star=\"1\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Binance.US has received court approval to invest in US Treasury bonds. The ruling was signed by US District Judge Amy Berman Jackson in Washington DC. According to the ruling, Binance.US will direct the assets of BAM Trading Services Inc. and BAM Management US Holdings Inc. with third-party investment advisors. Both entities operate in the US.<\/p>\n","protected":false},"author":1,"featured_media":20568,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[22,1278,40,1809,39],"class_list":["post-25510","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exchange-news","tag-binance","tag-binance-us","tag-bnb","tag-changpeng-zhao","tag-sec"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Binance Wins in US: Can Use Customer Funds - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/binance-wins-in-us-can-use-customer-funds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Binance Wins in US: Can Use Customer Funds - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Binance.US has received court approval to invest in US Treasury bonds. The ruling was signed by US District Judge Amy Berman Jackson in Washington DC. According to the ruling, Binance.US will direct the assets of BAM Trading Services Inc. and BAM Management US Holdings Inc. with third-party investment advisors. 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