According to Semafor's claim, US Justice Department officials are considering fraud charges against crypto exchange Binance, but are concerned about the cost to consumers, according to sources familiar with the matter.
According to Semafor, federal prosecutors are concerned that if they indict Binance, it could cause a run in the stock market similar to what happened to the now-bankrupt FTX platform, causing consumers to lose their money and potentially causing a panic in the crypto markets.
According to the sources, prosecutors are considering other options, such as fines and deferred or non-prosecution agreements.
This result could be a compromise that reduces consumer harm while holding Binance responsible for the alleged criminal behavior, Semafor reported.
*Not investment advice.
