A Turning Point for Cryptocurrency Markets

The cryptocurrency markets have been marked by the Binance settlement as one of the reasons behind Bitcoin‘s surge past the $40,000 mark once again. Investors have interpreted this development as a positive step, leading to an increase in risk appetite and, with optimism for 2024, the $44,000 level was surpassed. Now, a new development related to the case has been announced.

Binance Breaking News

The agreement between Binance, CZ and the Department of Justice was aiming to dismiss the charges brought by the CFTC and the US Department of Justice. In line with this, the company will pay a fine of $4.36 billion, which would prevent the launch of a devastating lawsuit that could end the exchange’s operations. US officials took this step to prevent any potential harm to investors and also sought the resignation of CZ.

CZ, who was asked to stay in the US until the February hearing, can now breathe a sigh of relief. According to a recent Reuters report, a US District Judge has given approval. As a result, the defense agreements between Binance, former CEO CZ, and the Department of Justice have been accepted.

Bitcoin‘s price did not experience a significant increase following the news, but the positive development is expected to support the markets. At the time this article was prepared, BTC was finding buyers at $43,810. CZ is still awaiting the decision from the penalty hearing in February.