Binance. US has reached an agreement with the SEC and plans to transfer US customer funds and wallet keys back onshore.
In the short term, BTC has reached the top, but there is one detail. News such as Binance US transferring back to the United States came out after the market pulled Chinese.
But it’s not over yet, only the first step.
What's the meaning? Don’t you really think that the SEC and BinanceUS have reached a settlement?
No money was paid, only the assets of BinanceUS were transferred back to the United States. In fact, this is not reconciliation.
It is just the first step in hearing the case. The SEC and BAM Trading (the actual controlling company of BinanceUS) have reached a preliminary agreement that they will no longer require the freezing of BAM Trading’s funds, because freezing will lead to the actual “bankruptcy” of BinanceUS. The final conclusion is to hand over the assets of BinanceUS to the management of senior BinanceUS employees in the United States. This actually reveals two pieces of information:
First, there is nothing wrong with the asset itself.
Second, the management of assets does not belong to American employees, or even senior executives.
It’s just that after reaching an agreement this time, both parties agreed to use one (several) new wallets to manage all BinanceUS user assets, and the private keys were managed by BinanceUS’ senior employees in the United States. The news reported today is only the execution and handover of this incident. It is still only the first step of the prosecution. It has not even entered the real prosecution stage. It is as far away from reconciliation as I stopped updating.
As a retail investor, you must be rational and avoid FOMO in this kind of market situation. Since it is not a real reconciliation (it would not be that fast), there is a possibility that the relationship will be broken. Especially now when liquidity is low, we have to be careful.
Let’s recall that when the SEC sued Binance, what was the market most worried about? Is there something wrong with Binance? So the assets are fine now, do you still have this worry?
Even if there is, the worry is much less than before, right?
Now that assets are being kept by Americans, this can indeed give the market a prelude to reconciliation. Didn’t SEC say you want to ensure the safety of Americans’ assets? I'll keep it for you now. This matter will go back and forth, but it's not important anymore
"This matter will go back and forth, but it is not important anymore." What does it mean?
The repeated back-and-forth accusations that sec is suing Binance will not end so soon. It has been made clear above. This kind of lawsuit is unlikely to end anytime soon, unless the sec suddenly withdraws the lawsuit for some reason.
Unimportant means that until now, Binance has not found any major problems since the incident occurred, and there is an expectation of reconciliation, but that is not important. There is no need for any reason for others to want to mess with you. There is no problem with funds, but it may not be that easy for sec to survive the stormy waves. Unprovoked fud means nothing. Just watch it as an ordinary drama~
This is only the first step, but it also points the way for the market.
Today’s gainer list
The decentralized wallet concept resists SEC scrutiny. There is another wallet coin C98 still below, let’s put it on the list too.
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