The US Department of Justice (DOJ) has demanded $4 billion from crypto exchange Binance in a settlement that would end an ongoing criminal investigation.
As reported by Bloomberg, negotiations between the parties suggest the possibility of the platform's CEO, Changpeng Zhao, being charged with money laundering, financial fraud and sanctions violations.
The agreement, which would allow the company to continue operating while complying with US laws, could be officially announced by the end of November.
Binance and its CEO have faced investigations and indictments by various agencies in the US, including the US Securities and Exchange Commission and the Commodity Futures Trading Commission.
CZ currently resides in the United Arab Emirates, which does not have an extradition treaty with the United States.