Home CryptocurrencyAltcoin BNB appears after report that the Department of Justice wants a $4 billion deal with Binance

BNB appears after report that the Department of Justice wants a $4 billion deal with Binance

by SuperiorInvest

BNB (BNB) has gained more than 7% in the past day after Bloomberg reported that the US Department of Justice is contemplating a $4 billion deal with Binance to resolve its investigation into the company.

Cointelegraph Markets Pro shows BNB rose 6% to $262 in about 30 minutes after Bloomberg’s Nov. 20 report that Binance was negotiating a deal to resolve a Justice Department investigation into alleged sanctions violations, money laundering money and fraud.

BNB fell to $252 about four hours later, but posted a second rise to $266, its highest price since June 7, two days after the Securities and Exchange Commission sued Binance and CEO Changpeng “CZ ”Zhao alleging that they violated several securities laws.

BNB has seen a gain of over 7% in the last 24 hours. Source: Cointelegraph Markets Pro

The Binance-issued token has the largest 24-hour price increase among the 75 largest cryptocurrencies by market capitalization. BNB is currently the fourth largest token with a market capitalization of over $40 billion.

Despite the recent price surge, BNB is down 61.4% from its May 10, 2021 all-time high of $686, but has gained 6.5% year-to-date.

Related: Binance launches Web3 wallet for its 150 million registered users

One settlement scenario involves Binance paying the 10-figure fine and being allowed to continue operating in the US under certain conditions.

An announcement of a possible deal could come by the end of the month, Bloomberg reported.

If Binance pays, it will be one of the largest penalties ever paid in a cryptocurrency criminal case.

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