BNB (BNB) rose more than 7% on the final day, according to a report by Bloomberg that the U.S. Department of Justice is considering a $4 billion settlement with Binance to end its investigation into the company.
Cointelegraph Markets Pro shows that BNB surged 6% to $262 within about 30 minutes of Bloomberg’s Nov. 20 report. The report claims that Binance is negotiating a deal to resolve a DOJ investigation into alleged sanctions violations, money laundering, and fraud.
BNB dropped to $252 about four hours later, but surged to $266 for a second time, its highest price since June 7, two days after the SEC sued Binance and CEO Changpeng Zhao “CZ” , accusing them of violating multiple securities laws.
The coin issued by Binance had the highest 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 cap up $4 billion from news low pic.twitter.com/6T6y3EveLF
— Hsaka (@HsakaTrades) November 20, 2023
Despite recent price gains, BNB is down 61.4% from its all-time high of $686 on May 10, 2021, but is up 6.5% year-to-date.
related: Binance launches Web3 wallet for its 150 million registered users
The settlement was for Binance to pay a 10-figure fine and be allowed to continue operating in the United States, subject to certain conditions.
An announcement of a potential deal could come as soon as the end of this month, according to Bloomberg.
If Binance pays the fee, it will be one of the largest fines ever paid in a cryptocurrency criminal case.
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