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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.
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.
STORY CONTINUES BELOW
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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%.
Stephen Alpher
Stephen is CoinDesk's managing editor for Markets. He previously served as managing editor at Seeking Alpha. A native of suburban Washington, D.C., Stephen went to the University of Pennsylvania's Wharton School, majoring in finance. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
