What’s going on here?

Sam Altman was reinstated as OpenAI’s CEO, proving that the five-day test run without him was more hassle than it was worth.

What does this mean?

Netflix scriptwriters have just been handed the plot of the year – unless AI can whip up a screenplay first, that is. In the last drama-filled few days, OpenAI’s cofounder was CEO, ex-CEO, head of Microsoft’s new AI lab, and now, CEO again – a lifetime of achievements most can only dream of. The side character’s ready to be cast too: former treasury secretary Larry Summers unexpectedly landed a seat on the board. You can bet the office was full of whispers when Altman clocked in on Wednesday, but let’s hope the focus wasn’t lost for long: OpenAI’s working on potentially humankind-ending technology, after all.

Why should I care?

The bigger picture: Follow the leader.

Altman certainly built quite a reputation for himself at OpenAI, or maybe he was known for bringing in snacks every Friday. More than 90% of the company’s workers threatened to quit after the shock firing, while big-name tech executives threw their compliments at the cofounder. That amount of dependence is known as a “key-man risk” for a company, and while most CEOs won’t make or break a firm, any small businesses that have pinned their hopes on a single leader may be inspired to draft more locked-in contract terms right about now.

Zooming in: It’s about the principle, promise.

OpenAI’s protesting staff may have been sacrificing themselves to support the firm’s visionary, it’s true. But with a round of fundraising – expected to value the firm at nearly $90 billion – coming up, there was probably another motive at play. Staff will be able to cash in their shares at the next round, which will make most of them millionaires. Altman’s departure could have jeopardized that price tag, though, so OpenAI workers arguably had a financial incentive to keep him around.

What’s going on here?

Binance pleaded guilty to criminal charges in one of the biggest corporate agreements in US history.

What does this mean?

US authorities finally announced a settlement with Binance, putting an end to years of investigation. The world’s biggest cryptocurrency exchange admitted on Tuesday that it failed to take basic anti-money laundering steps, an oversight that meant terrorists, hackers, and sex offenders could use the site to reshuffle their funds. In return for the admission, the US will let the exchange keep running. Not for free, mind you: Binance now owes $4.3 billion in fees, while the disgraced CEO has to step down, pay $50 million, and maybe even face prison time. But hey, at least he’ll join an exclusive club brimming with the likes of Sam Bankman-Fried of FTX, Alex Mashinsky of Celsius, and Do Kwon of Terraform Labs.

Why should I care?

For crypto markets: Time to win over the traditionalists.

Folk that still carry paper notes may be calling this the end of crypto, but the decision to not shut down Binance entirely is more likely to mark a milestone for regulation in the space. Regulators are keen to bolster compliance and market stability in crypto companies, without stifling innovation. And it looks like the shift’s already started: Binance’s new CEO cut his teeth in Singaporean central banks, no interweb or multi-colored keyboards in sight.

The bigger picture: Crypto’s holding its own.

Binance’s legal troubles have been weighing on the crypto market for the past year, so this kinder-than-feared resolution has lightened the load on investors’ shoulders. Case in point: similar events in traditional sectors have been known to trigger a panicked stock dump, but crypto investors seem, at worst, ambivalent. Such resilience in the face of potentially major upheavals could be just the publicity crypto needs, showcasing its evolution into a more stable and mature market.