US DOJ Considers Suing Binance, But Worries about Potential Run on Exchange

The U.S. Department of Justice is considering fraud charges against Binance, but also worries that the move could cause a run on the exchange and spur a panic in the crypto markets, Semafor reports.

According to people familiar with the matter, the DOJ is also considering other options, such as fines and deferred or non-prosecution agreements.

The $BNB price dropped immediately after the report was published. According to TokenInsight data, the price of $BNB dropped 3.04% over the last 24 hours, trading at $240.29 now.

Earlier this year, Binance was sued by the US Commodity Futures Trading Commission and Securities and Exchange Commission.

Related: CZ and Binance Sued by CFTC

SEC Sues Binance and CEO Changpeng Zhao for Securities Law Violations