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Binance's value surges as DOJ seeks $4B settlement

Binance’s value surges as DOJ seeks $4B settlement

BNB Hits Highest Price Since June Following Bloomberg Report on DOJ Probe

– BNB (BNB) has surged over 7% in the last day after Bloomberg reported that the US Department of Justice (DOJ) is considering a $4 billion settlement with Binance to resolve its investigation into the company.

– BNB spiked 6% to $262 within 30 minutes of the Bloomberg report, indicating investor optimism about a potential resolution to the DOJ probe.

– The token dropped to $252 four hours later but experienced a second spike to $266, reaching its highest price since June 7.

– BNB currently holds the fourth-largest market cap among cryptocurrencies, valued at over $40 billion.

– Despite the recent price increase, BNB is still down 61.4% from its all-time high in May 2021 but has gained 6.5% year-to-date.

– One possible settlement scenario involves Binance paying the hefty fine and being allowed to continue operating in the US under certain conditions.

– An announcement regarding a potential agreement could be made by the end of the month, and if Binance agrees to pay, it would be one of the largest penalties ever paid in a criminal cryptocurrency case.

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