US Seeks Over $4 Billion from Binance to Settle Criminal Case: Report

The US Department of Justice is reportedly pursuing a settlement of over $4 billion from Binance, the world’s largest cryptocurrency exchange by trading volume, to resolve a long-standing criminal investigation.

Bloomberg has revealed that discussions between the US Department of Justice and Binance have been ongoing for some time and may reach a conclusion within weeks.

According to sources familiar with the matter, the US government is seeking the substantial amount from Binance as part of a settlement over a case involving multiple alleged criminal violations, including bank fraud, money laundering, and sanctions violations.

There is also speculation that Changpeng Zhao, Binance’s founder, could potentially face criminal charges in the US as a result of the investigations.

As per reports, the talks between the US government and Binance are expected to wrap up in the coming weeks.

It is important to note that the prices of Bitcoin and BNB have surged to over $37,600 and $262, respectively, reflecting a 3% and 7% increase in the past 24 hours.

Summary: Binance Faces $4 Billion Settlement in US Criminal Case

According to Bloomberg, the US Department of Justice is in discussions with Binance, seeking a settlement of over $4 billion to resolve a prolonged criminal investigation involving alleged bank fraud, money laundering, and sanctions violations. The talks, which have been ongoing for a while, are expected to conclude within weeks.

FAQs

What is the amount the US government is seeking from Binance in the settlement?

The US government is seeking over $4 billion from Binance in the settlement to resolve a criminal case.

What are the criminal violations Binance is alleged to be involved in?

Binance is alleged to be involved in multiple criminal violations, including bank fraud, money laundering, and sanctions violations, as per sources familiar with the matter.