BitcoinWarrior

News and Education

Coinbase Director Says Binance Can Completely Cover $4.3B DOJ Fine Without Selling Any Crypto — New Binance CEO Responds

Coinbase’s directorJ Conor Grogan, on Wednesday said Binance has the necessary financial resources to settle with the US Department of Justice (DOJ) without liquidating its cryptocurrency holdings. What Happened: Analyzing Binance Corporate’s Proof of Reserves, Grogan pointed out the firm’s total assets amounted to $6.35 billion, with a significant portion in stablecoins valued at $3.19 billion. “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.” Richard Teng, CEO of Binance responded to Grogan sa…