Report: Binance May Settle with Justice Department

Binance is the world’s largest cryptocurrency exchange on the planet. Though it isn’t publicly traded, it’s still a major figure in cryptocurrency, from Bitcoin (BTC-USD) to the smallest altcoin. Reports note that the U.S. Justice Department may be at last finishing up its investigation of Binance, which has been going on for several years.

A formal deal between the two is expected to be announced later today, noted reports, and will start with around $4 billion in penalties. Further, there will likely be charges for some individuals. However, it’s unclear as of yet which individual, or individuals, will end up on the hook. Some reports even note that Binance CEO Changpeng Zhao will wind up stepping down and pleading guilty to several charges himself. Binance has been investigated extensively over the last four years for a variety of charges ranging from bank fraud and money laundering to even violating U.S. sanctions.

Many Other Changes to Follow

There are plenty of other changes coming to Binance as well, starting with the loss of part of its counter-terrorism operations. Binance’s senior official in that vein, Jennifer Hicks, departed the company after just two months in the position. Later, a financial crime investigator with the company, who went by the name “Suleiman M.,” also departed Binance. However, there’s one other point that caught crypto traders’ attention in general, as a flood of BONE tokens moved to a wallet linked to Binance. This prompted some to wonder if BONE—connected to the Shiba Inu asset structure—would end up listed on Binance soon.

Is Bitcoin a Good Buy Now?

Turning to Wall Street, a look at the last five days in trading for BTC-USD shows that it’s actually up from its levels just five days ago. Not by much, granted–it’s up all of 1.22%–but that’s even with a 2.02% drop in its price today.

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