BNB pops after report that DOJ wants $4B settlement with Binance


21 Nov 2023 4:20 AM

Binance’s BNB is up over 7% in 24 hours after Bloomberg reported that Binance and The U.S. Department of Justice are negotiating a $4 billion settlement to resolve a probe of the exchange....

  • BNB (BNB) has gained over 7% in the last day after Bloomberg reported that the United States Department of Justice is contemplating a $4 billion settlement with Binance to resolve its investigation into the company.
  • BNB spiked 6% to $262 in around 30 minutes after Bloomberg's report, which stated that Binance was negotiating an agreement to resolve a DOJ probe into alleged sanctions violations, money laundering, and fraud.
  • BNB dropped to $252 but later experienced a second spike to $266, its highest price since June 7, after the Securities and Exchange Commission sued Binance and CEO Changpeng "CZ" Zhao for violating securities laws.
  • BNB is currently the fourth largest token with a market cap of over $40 billion.
  • Despite the recent price increase, BNB is down 61.4% from its all-time high of $686 on May 10, 2021, but has gained 6.5% year-to-date.
  • One potential settlement scenario involves Binance paying a $4 billion fine and being allowed to continue operating in the U.S. with certain conditions.
  • An announcement of a potential agreement could be made by the end of the month, according to Bloomberg.

The sentiment of the article is mostly neutral, with a focus on the recent price movements of BNB and the potential settlement between Binance and the United States Department of Justice.

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You May Ask

What caused the recent price increase of BNB?What are the allegations against Binance by the United States Department of Justice and the Securities and Exchange Commission?How has BNB's market cap and price performance changed over time?What is the potential settlement scenario for Binance and when can an announcement be expected?

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