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Crypto investors have been aware of the risks that could shake the markets for months. We are referring to the US Justice Department case that was prepared with the CFTC case and almost finalized with the SEC case. Previous leaks and the details of the recent news are quite important.
Latest on Binance Case
For a long time, Bloomberg sources claimed that there was an ongoing investigation by the US Justice Department against the Binance exchange. The possibility of this turning into a lawsuit was high, and we did not know what the US Justice Department had in addition to the CFTC and SEC charges. Bloomberg has just leaked some important details.
According to Bloomberg, after years of investigation against the world’s largest crypto exchange, the US Justice Department is demanding $4 billion from the company. Negotiations between the Justice Department and Binance, according to those familiar with the controversies, are working on an agreement to resolve the investigation into the founder Changpeng Zhao‘s alleged money laundering, bank fraud, and sanctions violations.
So, will CZ pay $4 billion in cash to resolve this investigation? The amount is not an impossible sum to pay, and it would be great news for the company and CZ to escape the criminal case before the bull season. CZ’s statements in the coming minutes could increase volatility. After the BTC news was first shared, it started to rise after falling.