It was reported that Binance was requested to pay a fine of more than $4 billion to end the ongoing investigation and lawsuits in the United States.

According to Bloomberg, if a settlement is reached between the parties involving the US Department of Justice and Binance, the investigation into money laundering, bank fraud and sanctions violations will be ended. Zhao, on the other hand, may still face some criminal charges. It was noted that the agreement could be reached within this month.

Additionally, news sources said the agreement is aimed at striking a balance that will allow Binance to continue its operations, rather than risk a collapse that could lead to negative consequences for the markets and cryptocurrency investors.

Binance was being investigated by the ministry for helping it evade sanctions imposed by the United States against Iran and Russia. The exchange was also under investigation over whether it allowed transactions that helped finance Hamas.

The US Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance and Zhao in March. In June, the Securities and Exchange Commission (SEC) took Binance and Zhao to court.

Binance Coin (BNB) rose from $247 to $267 following today’s developments.

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