Crypto neighborhood members on X (previously Twitter) have turned their focus onto a $3.9 billion Tether (USDT) transaction between Binance wallets that surfaced on social media, following reviews claiming that the US Justice Division is negotiating a $4 billion settlement with the corporate.
On Nov. 20, a Bloomberg report citing nameless sources stated that the Justice Division is negotiating an settlement with crypto alternate Binance requiring the corporate to pay $4 billion in fines. As soon as paid, the agency will probably be allowed to function within the U.S. whereas complying with its legal guidelines. The report stated this might be introduced as quickly as the tip of November.
On Nov. 9, Binance transferred 3.9 billion USDT from its pockets known as “Binance-Chilly 2” on Tron to its pockets labeled “Binance 3.” After the switch, 300 million USDT was transferred to a different pockets, leaving round $3.6 billion in “Binance 3.” In response to blockchain intelligence agency ChainArgos, this transaction is the eighth largest USDT transaction on the Tron blockchain.
— ChainArgos (@ChainArgos) November 13, 2023
Following the report on the negotiations between the alternate and the U.S. Justice Division, varied accounts on social media began speculating concerning the $3.9 billion switch.
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Some raised questions concerning the funds, inquiring about the place the cash got here from and if it was a type of preparation to pay the fines. With the timing of the switch and the Justice Division report being very shut to one another, some Twitter customers try to join the dots and determine if there are any connections between the 2.
Cointelegraph reached out to Binance however didn’t get a right away response.
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