Binance is agreeing to pay $4.3 billion in settlement in its ongoing case with the US Government, the Department of Justice announced today. US Attorney General Merrick Garland will take part in a press conference at 3 p.m. EST today, according to reports.
The department’s multi-year-long investigation into Binance is coming to an end today. As well as the settlement, Binance’s CEO Changpeng Zhao is also resigning as CEO. The Binance company has been under major scrutiny over the past year, and the powerhouse exchange appears ready to flip on its head after the latest settlement and resignation of its leader.
The Binance native token BNB also has reacted to the news, dropping nearly $16 in value in just two hours, according to CoinMarketCap. Holders should beware of a potentially bigger drop within the next 24 hours on the Binance token.
Also Read: Changpeng Zhao Resigns as Binance CEO
This is an active story, so check back for updates on the US Government’s settlement with Binance and more surrounding Binance CEO Zhao’s guilty plea.