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