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Binance moved $3.9 billion in Tether before news of a possible settlement with the DOJ broke.
Cryptocurrency exchange Binance transferred a large sum of Tether, a stablecoin pegged to the US dollar, just days before news of a possible settlement with the US Department of Justice (DOJ) emerged. The transfer of $3.9 billion in Tether from Binance’s “Binance-Cold 2” wallet on Tron to its “Binance 3” wallet raised questions among some community members on social media, who speculated that the funds may be related to the possible settlement.
The DOJ is reportedly negotiating a $4 billion settlement with Binance to resolve allegations that the exchange violated US anti-money laundering laws. The timing of the Tether transfer so close to the news of the possible settlement has led to speculation that the funds may be earmarked for the settlement payment.
Binance has not commented on the speculation about the Tether transfer. The exchange has previously stated that it is cooperating with the DOJ’s investigation.
