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Why is the US seeking $4 billion from Binance?

WATCH: Bloomberg has learned that the US is seeking more than $4 billion from Binance as part of a proposed resolution of a years-long investigation. Allyson Versprille reports. The case is one of the largest investigations the Justice Department has ever conducted into a cryptocurrency company.

Why is the Justice Department seeking $4 billion from Binance holdings?

REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights Nov 20 (Reuters) - The U.S. Justice Department is seeking more than $4 billion from Binance Holdings as part of a proposed resolution of a years-long investigation, Bloomberg News reported on Monday, citing people familiar with the discussions.

How much will Binance pay a billionaire?

Binance will pay $1.81 billion within 15 months, and a further $2.51 billion forfeiture as part of the deal, prosecutors said. Zhao, a billionaire, was born in China and moved to Canada at the age of 12. He pleaded guilty in a Seattle court on Tuesday afternoon.

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