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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.
I backed out Binance Corporate's crypto holdings from their Proof of Reserves: $6.35B total assets, $3.19B in stablecoins
Doesn't include off-chain cash balances or funds held in wallets not in PoR
Most likely able to pay full $4.3B DoJ fine with 0 crypto asset sales pic.twitter.com/GK45EwRSPO
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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