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DoJ Seeks More Than $4 Billion From Binance to End Criminal Case - Bloomberg News
Summary: The U.S. Department of Justice is seeking more than $4 billion from Binance Holdings as part of a proposed settlement of a years-long investigation, Bloomberg reported on Monday, citing people familiar with the matter. While an official announcement on the resolution could come by the end of the month, uncertainties remain regarding the specific timeline and ...
The U.S. Department of Justice is seeking more than $4 billion from Binance Holdings as part of a proposed settlement of a years-long investigation, Bloomberg reported on Monday, citing people familiar with the matter. While an official announcement on the resolution could come by the end of the month, uncertainties remain regarding the specific timeline and penalties associated with the proposed settlement.
Negotiations between the Department of Justice and Binance are taking place, with the possibility that the crypto exchange's founder, Changpeng Zhao, would face criminal charges, according to the report. Allegations against Zhao include money laundering, bank fraud, and sanctions violations in the United States.
The agreement aims to strike a balance, allowing Binance to continue its operations without risking a collapse that could adversely impact the market and crypto holders, insiders said.
Author: Katie Lin
Tags: Binance Holdings,Changpeng Zhao,Department of Justice,proposed settlement
Link: DoJ Seeks More Than $4 Billion From Binance to End Criminal Case - Bloomberg News [Copy]
