Federal prosecutors are reportedly investigating U.S. hedge funds that dealt with cryptocurrency exchange Binance, according to two people familiar with the matter. The hedge funds were reportedly subpoenaed by the U.S. Attorney's Office for the Western District of Washington. Sources Say US Department of Justice Is Investigating American Hedge Funds in Cryptocurrency Probe Washington Post staff writer Douglas MacMillan says the hedge funds were issued subpoenas issued by the U.S. Attorney's Office for...
Federal prosecutors are reportedly investigating U.S. hedge funds that dealt with cryptocurrency exchange Binance, according to two people familiar with the matter. The hedge funds were reportedly subpoenaed by the U.S. Attorney's Office for the Western District of Washington.
According to a Reuters Test report In mid-December 2022, said Binance is being investigated by the US Department of Justice, a Test report from the Washington Post claims that American hedge funds are being investigated as part of the investigation. Washington Post staff writer Douglas MacMillan says the hedge funds were issued subpoenas from the U.S. Attorney's Office for the Western District of Washington.
MacMillan cited two sources who “reviewed one of the subpoenas and spoke on condition of anonymity to discuss the confidential matter.” The reporter adds that the subpoenas do not mean investigators will press charges. “Prosecutors are still discussing a possible settlement with Binance and weighing whether they have enough evidence to file charges against the company,” MacMillan wrote.
The world's largest exchange by global trading volume, Binance, is busy Test in the last two months since FTX collapsed. MacMillan spoke with Binance Chief Strategy Officer Patrick Hillmann, who said the exchange speaks to “virtually every regulator around the world” on a daily basis. However, Hillmann and a DOJ spokesman declined to comment on the alleged investigation.
The subpoena report comes at a time when media outlets are covering a number of reports alleged probes in crypto asset firms and companies affiliated with these companies. At the end of December 2022, The Wall Street Journal (WSJ) reported reported that the US Securities and Exchange Commission (SEC) is investigating companies that audit crypto exchange reserves. A large handful of the so-called investigations have not been officially verified by US law enforcement officials, but it's safe to say the reports are making the crypto community nervous these days.
Do you have 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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