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Top executive resignation at Binance due to compliance issues
5
Resolution / Starting Odds
Yes • 50%
No • 50%
Public announcements or credible news sources confirming the resignation
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DOJ Appoints FRA Over Sullivan & Cromwell as Binance's Monitor for Three Years
May 10, 2024, 07:15 PM
The U.S. Department of Justice (DOJ) has appointed Forensic Risk Alliance (FRA) over elite Wall Street law firm Sullivan & Cromwell as the external compliance monitor for Binance, a major cryptocurrency exchange. This decision comes after Binance pleaded guilty to violations of U.S. money-laundering regulations and trade sanctions. FRA will oversee Binance's adherence to the plea agreement over a three-year period, gaining access to the company's internal records, facilities, and employees to ensure compliance.
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Public warning issued • 25%
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No action taken • 25%
No further action taken • 33%
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