Today in Markets

Crypto Markets Unfazed by DOJ

A record fine and criminal charges against a crypto main character didn't cause market damage
Bankless Bankless Nov 21, 20231 min read
market analysis Crypto Markets Unfazed by DOJ

Crypto shrugs off DOJ: The DOJ probably had the opportunity to take a Binance kill shot, but it didn't. It instead levied a hefty fine that Binance can likely afford while forcing CZ to step down and face criminal charges while still holding onto his ownership. BNB barely budged and the crypto market sighed in relief.

The DOJ is getting ahold of some cash ahead of the Black Friday shopping season. It's $4.3 billion fine against Binance stands as one of the largest of all time, but with Binance's considerable war chest, it appears they won't have to liquidate any holdings to scrounge up the fine.

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