Yesterday, November 21, Binance, the world’s largest cryptocurrency exchange, and its CEO Changpeng Zhao (CZ) consented to a $4.3 billion settlement with the US Department of Justice. This decision follows charges of money laundering, unlicensed money transmitting, and US sanctions violations. As part of the settlement, Binance will pay $4.3 billion, while CZ personally agreed to a $50 million fine, as Bitcoinist reported.
Massive Bitcoin And Crypto Sell-Off Incoming?
Following the news, the crypto community buzzed with a flurry of speculations and insights. Matrixport, a prominent digital asset platform, noted that before the settlement, on-chain data indicated Binance had moved a substantial $3.9 billion in USDT across its various wallets.
Mike Alfred, a vocal critic of Binance and CEO of Digital Assets Data Inc posited that the fine could result in the partial liquidation of Binance’s Bitcoin and crypto holdings. He believes that Operation Choke Point 2.0 was designed to get the
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