Negotiation in legal dispute: Will Binance pay US$4 billion?

End in sight? The U.S. Department of Justice wants to avoid a "Black Swan Event" and is calling on Binance to reach a deal. Founder Changpeng Zhao is part of the deal.

The US Department of Justice (DOJ) is demanding more than US$4 billion from Binance as part of a proposed resolution to a long-running investigation. This reports Bloomberg. Since 2020, authorities have been investigating the world's largest crypto exchange for alleged money laundering, bank fraud and sanctions violations.

Binance gets another chance in the US

The agreement is intended to allow Binance to continue operating in the US. By doing so, the DOJ wants to prevent a so-called "Black Swan Event" in the crypto markets. Another part of the deal revolves around Changpeng "CZ" Zhao. The negotiations include the possibility of the Binance founder being prosecuted in the US, according to reports. According to insider information, an announcement could be made as early as the end of the month. Both CZ and Binance have yet to comment.

The news has already had an impact on the company's own cryptocurrency. In the past 24 hours, BNB is up nearly six percent. At the time of writing, the Binance Coin is trading at USD 259.77.