Connect with us


The US Wants Binance To Pay More Than $4bn To Quash Its Case



The US Wants Binance To Pay More Than $4bn To Quash Its Case

(CTN News) – As part of a proposed resolution of a years-long investigation into Binance Holdings, the US Justice Department is seeking more than $4 billion from this crypto company, according to a report from Bloomberg News.

According to the report, people familiar with the discussions say that there is a possibility that Binance’s founder, Changpeng Zhao, may face criminal charges in the United States in connection with the negotiations between the Justice Department and the cryptocurrency exchange.

According to the Justice Department, Binance has been under investigation by the government since at least 2018.

Binance was asked by US federal prosecutors in December 2020 for internal records regarding its anti-money laundering checks, as well as communications involving Zhao in connection with those checks.

Among the many legal and regulatory challenges faced in the US, the Justice Department’s investigation is one of the most significant.

There was a big headline story in June regarding Zhao being sued by the Securities and Exchange Commission (SEC), accusing them of operating an “elaborate scheme” in order to evade US federal securities laws.

There was a statement released disclaiming the allegations of the SEC and stating that the platform would “vigorously defend” itself against the accusations.

In addition to losing executives and declining market share, Binance has also had a bad year in terms of employee turnover, as well as losing executives and declining market share.

A dozen executives from Binance have exited the exchange in recent months, including the chief strategy officer, general counsel, and chief product officer who all left the exchange in the last few months.


Dollar Declines To a Two-month Low As Fed Cut Bets Rule

Continue Reading

CTN News App

CTN News App

Recent News


compras monedas fc 24

Volunteering at Soi Dog

Find a Job

Jooble jobs