Binance $3.9B USDT move gains community attention amid DoJ settlement claims

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Crypto neighborhood members on X (previously Twitter) have turned their focus onto a $3.9 billion Tether (USDT) transaction between Binance wallets that surfaced on social media, following experiences claiming that america Justice Division is negotiating a $4 billion settlement with the corporate. 

On Nov. 20, a Bloomberg report citing nameless sources mentioned that the Justice Division is negotiating an agreement with crypto alternate Binance requiring the corporate to pay $4 billion in fines. As soon as paid, the agency will likely be allowed to function within the U.S. whereas complying with its legal guidelines. The report mentioned this may very well be introduced as quickly as the top of November.

On Nov. 9, Binance transferred 3.9 billion USDT from its pockets known as “Binance-Chilly 2” on Tron to its pockets labeled “Binance 3.” After the switch, 300 million USDT was transferred to a different pockets, leaving round $3.6 billion in “Binance 3.” Based on blockchain intelligence agency ChainArgos, this transaction is the eighth largest USDT transaction on the Tron blockchain.

Following the report on the negotiations between the alternate and the U.S. Justice Division, numerous accounts on social media began speculating in regards to the $3.9 billion switch. 

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Some raised questions in regards to the funds, inquiring about the place the cash got here from and if it was a type of preparation to pay the fines. With the timing of the switch and the Justice Division report being very shut to one another, some Twitter customers are attempting to connect the dots and determine if there are any connections between the 2.

Cointelegraph reached out to Binance however didn’t get a direct response.

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