Report Claims U.S. Prosecutors Investigate Hedge Funds in Connection with Binance Dealings – Bitcoin News
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Federal prosecutors are reportedly investigating US hedge funds that have traded with cryptocurrency exchange Binance, according to two people familiar with the matter. The hedge funds had allegedly sent the subpoenas from the US Attorney’s Office to the Western District of Washington.
Sources say the US Department of Justice is investigating American hedge funds in the cryptocurrency investigation
Following a Reuters report in mid-December 2022 that the US Department of Justice was investigating Binance, a report by The Washington Post claims that American hedge funds are being investigated as part of the investigation. Washington Post contributor Douglas MacMillan says subpoenas have been sent to the hedge funds and they came from the U.S. attorney for the Western District of Washington.
MacMillan cites two sources who “reviewed one of the subpoenas and spoke on condition of anonymity to discuss a confidential matter.” The reporter adds that the subpoenas do not mean that investigators will press charges. “Prosecutors are still discussing a possible settlement with Binance and weighing whether they have enough evidence to bring charges against the company,” MacMillan wrote.
The world’s largest exchange in global terms, Binance, has come under a lot of scrutiny over the past two months following the collapse of FTX. MacMillan spoke with Binance’s chief strategy officer, Patrick Hillmann, who said the exchange was talking to “virtually every regulator around the world on a daily basis.” However, Hillmann and a DOJ spokesperson declined to comment on the alleged investigation.
The subpoena report comes at a time when the media is reporting on several apparent investigations into crypto-asset companies and companies linked to those companies. At the end of December 2022, The Wall Street Journal (WSJ) reported that the US Securities and Exchange Commission (SEC) is investigating companies that audit crypto exchange reserves. US law enforcement has not officially confirmed a large handful of the so-called investigations, but it’s safe to say that the reports are keeping the crypto community on edge these days.
Any thoughts on the alleged subpoenas issued to US hedge funds related to their dealings with Binance? Share your thoughts in the comments below.
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