Reason to trust
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Binance Coin (BNB), the native token of the world’s largest crypto exchange by trading volume, Binance, surged to a new all-time high on Tuesday, driven by speculation surrounding a potential agreement between Binance and the US Department of Justice (DOJ).
This development comes in the wake of ongoing discussions regarding compliance monitoring requirements tied to Binance’s significant $4.3 billion settlement related to allegations of insufficient measures to prevent money laundering.
Binance Negotiates With DOJ
According to a report by Bloomberg, the crypto exchange is negotiating with federal prosecutors over the possibility of eliminating a key oversight condition that mandates the retention of an external compliance monitor.
Sources familiar with the confidential discussions indicated that a successful negotiation could lead to a notable shift in the Department of Justice’s approach to independent oversight, particularly as the agency has already started to reduce the number of monitors initially appointed during the Biden administration.
Under President Donald Trump’s administration, the US Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), have been among the regulators shifting their stance towards digital assets.
For instance, the SEC has opted to drop enforcement cases against Coinbase, Uniswap, Robinhood, and Binance. This comes after a harsh crackdown on the industry over the past couple of years, which resulted in the resignation of the exchange’s former CEO, Changpeng Zhao (CZ).
BNB Outperforms Market
The potential deal between Binance and the US Department of Justice has generated considerable demand for BNB tokens, contributing to the altcoin’s price rally which surpasses growth of 12% on the monthly time frame.
In contrast, the broader digital asset prices have seen continued consolidation with Bitcoin (BTC) as the perfect example, consolidation for the past two weeks below all-time high levels of $124,000 reached last August.
Following the news, BNB reached a high of $956. It is currently trading at $954 and still positioned to capitalize on the growing momentum for the exchange’s native token.
Featured image from DALL-E, chart from TradingView.com
Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.
Ronaldo’s journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.
Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.
One of Ronaldo’s defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.
Ronaldo’s commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo’s writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.
Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.
However, Ronaldo’s aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.
Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.
With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
