Binance news: DOJ asking Binance for $4 billion payout

Binance News: DOJ Asking Binance for $4 Billion Payout

The US Department of Justice (DOJ) has been investigating Binance’s practices for many years in a row now. However, the new Binance news seems to suggest that this thorough investigation may finally be coming to an end soon. This is not necessarily a good sign for Binance, though. They will be coming to a settlement where the court has asked the firm to pay $4 billion. All investigations should end if they go through with this.

In addition, they will also possibly be charging the CEO of Binance, that being Changpeng Zhao. They plan to charge him on several counts, including violating sanctions, bank fraud, and even money laundering. Therefore, it appears they have implicated him in several Binance scams. Several important individuals left the company in July as they disapproved of the CEO’s handling of the case. However, they themselves stated that they had left the term for personal reasons and were leaving on good terms.

So, it seems that such a settlement would certainly not be too promising for the firm.

They may not have much choice in the matter, however. This would be one of the largest payouts by a crypto firm in connection to such an investigation. Some analysts have stated that there may be a settlement as early as November’s end. We will have to keep an eye out for any future Binance announcement on this matter.

However, some people believe that such a move may actually be positive for the industry as a whole. By going for a settlement, the DOJ would be signalling that it is acting with some restraint. It would allow Binance to continue operating while it still gets a hefty penalty for any of its misdeeds. This would also mean that the crypto market, in general, will stay afloat, as it will not anticipate a complete shutdown.

We can already see positive effects in action on the market. BNB has risen by 4%, going to $257. If they reach a settlement and stop such investigations, this Binance news could mean a bull run is likely to come in the future.

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