BNB (BNB) gained more than 7% over the past day after Bloomberg reported that the US Department of Justice is considering a $4 billion settlement with Binance to resolve its investigation into the company.
Cointelegraph Markets Pro shows BNB climbed 6% to $262 about 30 minutes after Bloomberg’s Nov. 20 report, which said Binance was negotiating a deal to resolve a DOJ investigation into alleged sanctions violations, money laundering money and fraud.
BNB fell to $252 about four hours later, but recorded a second peak at $266 – its highest price since June 7 – two days after the Securities and Exchange Commission sued Binance and CEO Changpeng. CZ” Zhao, alleging that they violated various securities laws.
The token issued by Binance has the largest 24-hour price increase among the 75 largest cryptocurrencies by market capitalization. BNB is currently the fourth largest token with a market capitalization of over $40 billion.
BNB market capitalization + $4 billion from published low pic.twitter.com/6T6y3EveLF
– Hsaka (@HsakaTrades) November 20, 2023
Despite the recent price rally, BNB is down 61.4% from its all-time high of $686 on May 10, 2021, but has gained 6.5% year-to-date.
Related: Binance launches Web3 wallet for its 150 million registered users
One settlement scenario calls for Binance to pay a 10-figure fine and be allowed to continue operating in the United States under certain conditions.
The announcement of a possible agreement could come as early as the end of the month, Bloomberg reported.
If Binance pays, it will be one of the largest penalties ever paid in a cryptocurrency criminal case.
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