The Miami Entrepreneur

US wants over $4B from Binance to end criminal case: Bloomberg

Read Time:1 Minute, 5 Second

The US Department of Justice is looking for $4 billion from Binance as settlement over the prolonged investigations against the crypto exchange.
Bloomberg says in a report that talks between the DOJ and Binance have been ongoing for a while and could end within weeks.

The US government is reportedly seeking over $4 billion from Binance, the world’s largest cryptocurrency exchange by trading volume, in order to settle the criminal investigation against it. 

The US Department of Justice and Binance have held discussions over this, Bloomberg News said in a report published on Monday.

Per the report, the DOJ will want Changpeng Zhao’s crypto behemoth to pay the colossal amount as part of a settlement in a case involving multiple criminal violations.

The talks between Binance and the DOJ also highlight the possibility that Zhao will face criminal charges in the US for charges that include bank fraud, money laundering and sanctions violations, according to people familiar with the said discussions.

According to the report, talks between the US government and Binance could conclude within weeks.

Bitcoin and BNB prices have spiked to above $37,600 and $262 respectively, up 3% and 7% in the past 24 hours.

The post US wants over $4B from Binance to end criminal case: Bloomberg appeared first on CoinJournal.

About Post Author

Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %
Previous post Market Extra: U.S. stocks avoided an ‘earnings apocalypse’ in November. But one final test looms on Tuesday.
Next post How to Know If You’re Ready to Leave Your 9-5 and Go All In on Your Side Hustle