BNB Plunges as Crypto Market Reacts to Binance CEO Stunner - Decrypt
Binance and CEO Changpeng Zhao will reportedly plead guilty today amid a settlement with the U.S. DOJ. BNB quickly tumbled on the news....
- The price of Binance's BNB token has dropped 8% following reports of the exchange and its CEO planning to plead guilty and pay a fine to settle charges from the US Department of Justice.
- Bitcoin and Ethereum have also seen gradual price dips, but not to the same extent as BNB.
- Binance and its CEO will reportedly plead guilty to violating anti-money laundering requirements and pay a $4.3 billion settlement.
- The settlement is expected to be announced by the Department of Justice and will also address civil charges filed by the CFTC.
The sentiment of the article is negative, as it discusses the drop in Binance's BNB token price and the legal issues faced by the exchange and its CEO.