US Justice Dept. is reportedly ready to settle with Binance for $4 billion
The US agency and crypto exchange are reportedly negotiating for an end to the investigation that will allow Binance to continue operating in the future....
- The US Justice Department is in negotiations with Binance to resolve an investigation into the company.
- Binance would be required to pay $4 billion in fines and comply with US laws to continue operating.
- Binance CEO Changpeng Zhao (CZ) may face criminal charges related to alleged money laundering, bank fraud, and sanctions violations.
- CZ is currently living in the UAE, which does not have an extradition treaty with the US.
- Binance is seeking a deferred prosecution agreement, which would involve paying penalties, admitting non-compliance, and implementing a monitoring process.
- Binance has not responded to the report.
- In 2022, CZ sued a Bloomberg subsidiary for publishing false stories about him running a Ponzi Scheme.
The sentiment of the article is negative, as it discusses potential criminal charges, fines, and legal issues surrounding Binance and its CEO.