Binance Coin Hurt by Possible Prosecution of its CEO
BNB loses 4.86% after Reuters report on possible money laundering charges. STX is the largest gainer with 12%. TRX lower with stablecoin issues.
The BNB native token of the Binance cryptocurrency exchange has been hurt this week by possible prosecution against its executives. The Reuters news agency published the initial story that cited sources close to the long-running case against the exchange.
The article said some federal prosecutors involved in the case believe there is enough evidence to justify moving aggressively against the exchange and filing criminal charges its founder Changpeng Zhao and other executives.
However, Binance hit back at the claims and said that Reuters “has it wrong again”.
Binance had written a blog in June this year citing Chainalysis data debunking crypto money laundering.
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