US wants over $4B from Binance to end criminal case: Bloomberg

The US government 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. 

The US Department of Justice and Binance have held discussions over this, Bloomberg News said in a report published on Monday.

Per 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.

The talks between Binance and the DOJ also highlight the possibility that Zhao will face criminal charges in the US for charges that include bank fraud, money laundering and sanctions violations, according to people familiar with the said discussions.

According to the report, talks between the US government and Binance could conclude within weeks.

Bitcoin and BNB prices have spiked to above $37,600 and $262 respectively, up 3% and 7% in the past 24 hours.