Big news for BNB: Binance is allowed to invest customer funds in U.S. Treasury bills, and the price of BNB soars.

After a year of intense scrutiny of Binance’s U.S. operations, a court has finally given the go-ahead for Binance to invest customers’ fiat funds in U.S. Treasury bills (T-Bills).

The decision caused a significant recovery in the price of Binance’s native token, Binance Coin (BNB), reaching the $600 level.

Court Grants Binance BAM Subsidiary’s Request for Relief According to court documents, BAM Trading Services and BAM Management US Holdings (collectively, BAM) filed a motion.

After deliberation, the court approved the request, allowing Binance’s U.S. subsidiary BAM to hire a third-party investment adviser to manage the company’s assets and paving the way for customers’ legal funds to be invested in U.S. Treasury securities.

Under the court-approved arrangement, BAM can invest a portion of client fiat funds currently held in BitGo into U.S. Treasury securities every four weeks. However, to ensure compliance, BAM prohibits any third party, including Binance entities, from participating in these investments.

Previously, Binance agreed to pay a $4.3 billion settlement to the U.S. government in November last year, which was subsequently approved by the court.

The settlement includes $2.5 billion in forfeiture and $1.8 billion in fines. As part of the agreement, former CEO Changpeng Zhao (CZ), who faces charges of violating the Bank Secrecy Act, agreed to resign.

Zhao Changpeng is currently serving a four-month sentence.

Currently trading at $597, BNB’s price has risen by more than 5% on the news, having fallen to a low of $455 on July 5.

However, over the past two weeks, the coin has also seen significant gains as the overall market recovered.