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The US government is seeking over $4 billion from Binance to settle a criminal case, alleging money laundering and other illicit activities. Binance CEO Changpeng Zhao responded to claims that his crypto exchange is a 'walking time bomb' by denying any wrongdoing. Following the news, Binance clients withdrew $1 billion from the platform, causing significant market turmoil. The BBC News reported the breaking developments in the ongoing saga.

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