Those with knowledge of the matter claim that the settlement is worth $4–$5 billion.
According to persons familiar with the situation, cryptocurrency exchange Binance is in negotiations with US regulators to resolve criminal accusations and associated investigations.
According to people familiar with the matter, the US Department of Justice stands to gain anywhere from $4 billion to $5 billion from the settlement agreement. The report also stated that the exchange has been in discussions with the DOJ for years despite being the target of a civil lawsuit by the US Securities and Exchange Commission.
According to the SEC’s lawsuit, the cryptocurrency exchange mixed customer funds and sold unregistered securities.
The proposed agreement between the DOJ and Binance would grant law enforcement access to the exchange’s vast database while allowing the exchange to continue operating, avoiding a potential collapse and its consequences. According to people with knowledge of the situation, DOJ agents and other investigators are considering using the exchange to improve their ability to keep an eye on illegal financial activity.
Stay in the know on crypto by frequently visiting Crypto News Today
A rival of Binance, FTX, failed in November of last year.
According to reports, the DOJ’s asset recovery and money laundering team is in charge of the settlement.
The DOJ has been looking at Binance for years; back in October, lawmakers urged the DOJ to decide whether to press charges.
In addition, the DOJ is investigating Binance for possible sanctions evasion. The company reportedly assisted in bypassing Iranian and Russian sanctions. It has also been charged with aiding Hamas, despite having collaborated with Israeli law enforcement to block cryptocurrency accounts connected to Hamas in October.
CryptoCaster Quick Check:
The Securities and Exchange Commission has also filed a lawsuit against the cryptocurrency exchange, claiming that it provided unregistered securities and mixed consumer funds.
Requests for comment were not immediately answered by DOJ or Binance representatives.
According to TradingView data, the announcement caused the price of Binance’s token (BNB) to rise, increasing the digital asset’s worth by around 7% as of the time of publication.
We hope you appreciated this article. Before you move on, I was hoping you would consider taking the step of supporting CryptoCaster’s journalism.
From Elon Musk, Larry Fink(BlackRock) to Jamie Dimon(JP Morgan Chase) a number of billionaire owners have a powerful hold on so much of the hidden agendas’ which eludes the public concerning the paradigm shift juxtaposed by cryptocurrency and web3 emerging technologies. CryptoCaster is different. We have no billionaire owner or shareholders to consider. Our journalistic efforts are produced to serve the public interest in crypto development and institutional disruptions – not profit motives.
And we avoid the trap that befalls much U.S. and global media – the tendency, born of a desire to please all sides, to engage in false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency dictates everything we do, we know there is a right and a wrong position in the fight against fiat global banking interest and monetary reconstruction precipitated by the emerging crypto ecology.
When we report on issues like the FTX, Binance and Ripple crisis, we’re not afraid to name who or what is uncovered. And as a crypto sentinel, we’re able to provide a fresh, outsider perspective on the global monetary disruption – one so often missing from the insular American and European media bubble.
Around the world, readers can access the CryptoCaster’s paywall-free journalism because of our unique reader-supported model. That’s because of people like you. Our readers keep us independent, beholden to no outside influence and accessible to everyone – whether they can afford to pay for news and information, or not.
We thankyou for the on-going support our readers have bestowed monetarily. If you have not considered supporting CryptoCaster, if you can, please consider supporting us just once from $1 or more of Bitcoin (satoshi) or Eth, and better yet, support us every month with a little more. Scroll further down this page to obtain CryptoCaster’s wallet addresses.
Thank you.
Kristin Steinbeck
Editor, CryptoCaster
Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.
Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt
CRYPTOCASTER HEATMAP
