u.today
The United States Justice Department is reportedly asking for over $4 billion from Binance to settle a long-standing investigation into the cryptocurrency exchange, Bloomberg reports.
The settlement discussions reportedly allow for the possibility that Changpeng Zhao, the founder of Binance, might face criminal charges in the U.S.
These charges would address allegations of money laundering, bank fraud, and violations of sanctions.
As reported by U.Today, there have been numerous reports about Binance potentially facing criminal charges from the U.S. Justice Department.
The crypto giant is in the middle of a tumultuous period marked by executive departures, layoffs, and a slip in market dominance, Binance's challenges are mounting.
The exchange, once at the pinnacle of the crypto market, now contends with internal strife and a reduced market share.