Bitcoin and BNB Token Stage Relief Rallies on Binance Settlement News

A major overhang over the crypto market – whether the world's largest crypto exchange might soon be put out of business – might soon be going away, and bitcoin (BTC) and BNB Coin (BNB) are moving higher on the news.

According to Bloomberg, Binance by month's end might be paying $4 billion to make multiple criminal charges in the U.S. go away. Importantly, however, the settlement reportedly would allow the exchange to continue operations.

To this point, a spokesperson with the DOJ declined to comment to CoinDesk and Binance didn't immediately respond to a request for comment.

After initial dips when the headlines hit, bitcoin and BNB have both moved to session highs, with bitcoin ahead 1% on the day and BNB up 6%.

Stephen Alpher

Stephen Alpher is CoinDesk's managing editor for Markets. He holds BTC above CoinDesk’s disclosure threshold of $1,000.