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Bitcoin and BNB Token Stage Relief Rallies on Binance Settlement News
Crypto exchange Binance could reportedly soon be paying $4 billion to settle multiple U.S. criminal charges, according to Bloomberg.
Updated Mar 8, 2024, 5:23 p.m. Published Nov 20, 2023, 6:01 p.m.
A major overhang over the crypto market – whether the world's largest crypto exchange might soon be put out of business – might soon be going away, and bitcoin [BTC] and BNB Coin [BNB] are moving higher on the news.
According to Bloomberg, Binance by month's end might be paying $4 billion to make multiple criminal charges in the U.S. go away. Importantly, however, the settlement reportedly would allow the exchange to continue operations.
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To this point, a spokesperson with the DOJ declined to comment to CoinDesk and Binance didn't immediately respond to a request for comment.
After initial dips when the headlines hit, bitcoin and BNB have both moved to session highs, with bitcoin ahead 1% on the day and BNB up 6%.
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