On November 21, Bloomberg reported, citing people familiar with the matter, that the U.S. Department of Justice was seeking more than $4 billion in fines from Binance as part of a proposed settlement of a years-long investigation into it.

According to people familiar with the matter, the news may be released as soon as the end of this month, but it is still unstable. The exact timing and structure of the proposed resolution, as well as the exact cost, are unclear.

Three people familiar with the matter said the agreement aims to strike a balance that would allow Binance to continue operating rather than risk a collapse, thereby reducing the negative impact on the market and cryptocurrency holders

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