US is seeking more than US$4bn from Binance to end criminal case: Bloomberg
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The news: The US Justice Department is seeking more than USD4 billion ($6.2 billion) from Binance Holdings as part of a proposed resolution of a years-long investigation into the world's largest cryptocurrency exchange, Bloomberg reported citing unnamed sources.
The context: Negotiations between the Justice Department and Binance include the possibility that its founder, Changpeng Zhao, would face criminal charges in the US under an agreement to resolve the probe into alleged money laundering, bank fraud and sanctions violations. An announcement on the resolution could come as soon as the end of this month. Binance has been under Justice Department's scrutiny since at least 2018, Reuters reported.
