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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 in a cryptocurrency case?

The exact timing and structure of the proposed resolution and specific charges aren’t clear. However, Binance would likely be expected to pay more than $4 billion, which would be one of the largest-ever penalties in a criminal cryptocurrency case.

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