Troubled by investigations and lawsuits in the United States BinanceActivity in its wallet attracted attention ahead of $4 billion criminal proceedings.
US Department of Justice Cryptocurrency Exchange BinanceIt had sought $4 billion to end a years-long investigation into the company’s criminal activities, including money laundering and fraud. CEO of Exchange Changpeng ZhaoThis situation, which also includes the possibility of facing criminal charges, hit the agenda like a bomb along with developments related to wallet transfers.
The $4 billion transfer transaction made on November 9 made the situation worse!
Binance has been continuously on target of the Justice Ministry since 2018. Federal prosecutors reportedly requested internal records regarding the exchange’s anti-money laundering policies and Zhao’s internal communications from 2020. Additionally, Binance is being investigated by the Justice Ministry over allegations that it allowed Russian users to evade international sanctions following the start of the Russia-Ukraine war.
Binance, which was in trouble especially due to its activities on the US side, was hit with a bill of $4 billion. The most shocking aspect of the incident occurred 12 days before news of the sentencing broke. Binance, which transferred $3.9 billion from its cold wallet to its wallet on November 9, brought many questions to mind.
The fact that the penalty amounts applied to Binance and the transfers made on November 9 were so close raised doubts about whether there was any insider flow of information. Allegations were made that Binance, which took such a step 12 days ago, had received inside information about US tensions. No official statement has been made yet regarding the balance between transfer and punitive action.
BNB rocks the market with 12 percent price swings!
Incredible instability was experienced after the events bnbAfter falling to $238, it shot straight up to $268. The exchange’s native token BNB, which has fluctuated 12.63 percent in a very short period of time, is currently trading at $258.9. If various problems continue on the Binance side, a retracement to $238, then $221 and $203 could occur.
BTC moving towards $40,000, Binance successfully overcoming this food environment, or positive key news depending on the sector will push BNB higher again. In such a case, the target levels would be $260.5 – $290.1 and $316.8 respectively.