2023-11-21 16:32:45
The BNB token hit its highest price since June after Bloomberg reported that the US Department of Justice may offer to pay Binance a $4 billion fine as part of a settlement to end its investigation into the exchange. The BNB price jumped 6% to $262 in the 30 minutes following the publication of the Bloomberg article on November 20. The article revealed that Binance is negotiating a deal to finally end its DOJ investigation into alleged sanctions violations, money laundering and fraud. BNB fell to $252 about four hours later, but rebounded with a second jump to $266, its highest since June 7. The token reached its all-time high in June before news broke that the Securities and Exchange Commission had sued Binance and CEO Changpeng “CZ” Zhao for violating securities sales laws. The token had 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 rally, the BNB token is still 61.4% off its May 10, 2021 all-time high of $686, but with this jump, it is now up 6.5% year-to-date. The article said that under one settlement scenario, Binance would pay the 10-figure fine and continue to operate in the US under certain conditions. A possible agreement could be announced within hours, Bloomberg emphasized. If Binance pays, it will be one of the largest fines ever paid in a cryptocurrency-related criminal case.
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