The ‘crypto’ world is holding its breath once again. Binance, the world’s largest cryptocurrency exchange platform, has experienced a large withdrawal in the last 24 hours. upon learning of the investigation conducted by the United States against him. According to the Nansen data firm, a total of $1,600 million was withdrawn from the accounts of the 60,000 million assets that make up Binance’s capital. For this reason, the company chooses “temporarily” paralyzes “stablecoin” refundsor its main asset, USDC.
He became the CEO of Binance, who announced the measure on his personal Twitter account. The manager stated that he is waiting in the next few hours. “The situation will be resolved in the coming hours” and blamed a “technical issue” for the massive withdrawal of capital that did not jeopardize the liquidity of the platform.
She panicked after learning that the US Department of Justice (DOJ) was investigating Binance and its CEO, Changpeng Zhao, for possible money laundering. According to Reuters, at least Half a dozen prosecutors have been involved in this investigation since 2018, the date of its release, and the attorney with whom the criminal complaint was filed against Binance. The rest of the prosecutors are in favor of asking for more time to review more tests, although everything indicates the result will be the same.
prosecutors Three different offices of the Ministry of Justice: The Department of Money Laundering and Asset Recovery (MLARS), the National Crypto Security Team, and the US Attorney’s Office for the Western District of Washington in Seattle. Proceeding with money laundering charges against a company requires approval from MLARS. Ultimately, the Department of Justice has three options: to sue Binance and its principals, negotiate a settlement, or close the case.
According to the news agency, cryptocurrency platform reportedly hires law firm Gibson Dunnwhose representatives have met with Ministry of Justice officials in recent months . It should be noted that Binance did not respond to some requests for information and documents from prosecutors, stating that many of them would have been deleted due to Zhao’s privacy rules.
it should be noted that Binance is not registered in the USA mandatory requirement in the Bank Secrecy Act, designed to protect the country’s financial system from possible financial fraud. UK and Italy regulators banned it from operating in their respective regions during its 2019 debut, while Japan and Hong Kong warned investors about it.
As an answer, Binance has released an official statement on its Twitter account. accuses Reuters of being mistaken “again”, claiming that the platform has a team of 300 investigators protecting users against financial crimes.