Binance.US and SEC settle in court (19.06.2023)

A judge in the U.S. has rubber-stamped the agreement between the two parties, stating that the protection of customer assets is assured. The SEC initially wanted to freeze the funds for security. The SEC is to receive extensive information about wallets and transactions, which would make what happened at Binance.US transparent. Access to the private keys and the wallets may strictly only be done by Binance.US and must remain clearly demarcated from the parent company, for which new addresses would have to be created. The deal is interpreted differently. On the one hand, positive that it allows US offshoot to continue operating and generally as a signal that crypto service providers can reach an agreement. On the other hand, the SEC's insights into operations could be problematic for Binance. Binance CEO 'CZ' has expressed satisfaction about this and also emphasized that customer funds have never been at risk. Cooperation through transparency should be a promising approach for the crypto industry. In the present case, it is mentioned as a danger that the US Department of Justice will be called in in the event of violations, which could have far-reaching consequences. In parallel, the legal battle over the other points from the indictment continues. (Source | Source 2)

  • Growth through innovation/creativity:
    Rather than being constrained by ideas for new products, services and new markets coming from just a few people, a Thinking Corporation can tap into the employees.
  • Increased profits:
    The corporation will experience an increase in profits due to savings in operating costs as well as sales from new products, services and ventures.
  • Higher business values:
    The link between profits and business value means that the moment a corporation creates a new sustainable level of profit, the business value is adjusted accordingly.
  • Lower staff turnover:
    This, combined with the culture that must exist for innovation and creativity to flourish, means that new employees will be attracted to the organisation.