BNB price spikes amid report of possible Binance deal with DOJ
The price of BNB rose Monday after a report the U.S. Department of Justice is seeking $4 billion from Binance as part of a deal that could end its ongoing investigation. BNB has increased by over 5% in the past 24 hours and was changing hands for $254.51 at 1:50 p.m. in New York, according to CoinGecko. It had surged as high as $258.05, the highest price since June 9. According to a Bloomberg report on Monday, the DOJ is seeking over $4 billion from Binance Holdings Ltd.
The DOJ has been investigating the world's largest cryptocurrency exchange over alleged money laundering, bank fraud and sanctions violations, according to the Bloomberg report. Negotiations include the possibility that Binance CEO Changpeng Zhao could face criminal charges in the U.S. as part of an agreement to resolve the probe, the report added. The report said investors are stalling, with risk-off sentiment returning to a previously buoyant market. This is despite the latest indications on FedWatch that reveal an almost 98.8% probability that the U.S. central bank will maintain its target rate within the current range of 5.25% to 5.50% at its next meeting on December 13.
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