BNB price increased after a report stated that the DOJ is seeking $4 billion to resolve the Binance investigation. Analysts stated that Bitcoin could trade in a sideways range in the coming weeks.
The price of BNB rose on Monday following a report that the US Department of Justice demanded $4 billion from Binance as part of a deal to end the ongoing investigation.
BNB is up more than 5 percent in the last 24 hours, reaching as high as $258.05, the highest price since June 9, according to CoinGecko.
The U.S. Department of Justice has requested over $4 billion from Binance Holdings Ltd. as a potential settlement to conclude its investigation into the cryptocurrency exchange’s activities.
According to a Bloomberg report, the US Department of Justice has begun investigating the world’s largest cryptocurrency exchange for alleged money laundering, bank fraud and sanctions violations. Negotiations also included the possibility that Binance CEO Changpeng Zhao could face criminal charges in the United States as part of an agreement to resolve the investigation.
An announcement on a potential resolution to the investigation is expected by the end of the month, Bloomberg reported, citing people familiar with the matter. According to the report, a deal could allow Binance to continue operations and avoid a crash that could cause significant damage to the cryptocurrency market.
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