The US Department of Justice is reportedly seeking over $4 billion from Binance, the world’s largest cryptocurrency exchange by trading volume, in order to settle the criminal investigation against it. Talks between Binance and the DOJ have been ongoing for a while and could conclude within weeks.
According to the report, the DOJ will want Changpeng Zhao’s crypto behemoth to pay the colossal amount as part of a settlement in a case involving multiple criminal violations. Allegations of bank fraud, money laundering and sanctions violations are also said to be part of the discussions.
Bitcoin and BNB prices have spiked to above $37,600 and $262 respectively, up 3% and 7% in the past 24 hours.
The DOJ’s request for a settlement of $4 billion from Binance has caused a stir in the crypto space, with Bloomberg News reporting on the matter.