Close Menu
CryptoHoppers.comCryptoHoppers.com
    What's Hot

    Nvidia limits hash rate for GPUs, launches CMP for ETH miners

    March 21, 2024

    SoulKeeper: Safeguarding Your NFT Art with Ease | NFT CULTURE | NFT News | Web3 Culture

    August 14, 2024

    Pushd presale attracts Tron and Avalanche holders for early buy-in

    February 17, 2024
    Facebook X (Twitter) Instagram
    • Privacy Policy
    • Get In Touch
    Facebook X (Twitter) Instagram
    CryptoHoppers.comCryptoHoppers.com
    • News

      GENIUS Act Passes House with 308 Votes, Could Redefine Stablecoins and Supercharge U.S. Crypto

      July 18, 2025

      Bitcoin May Freeze Satoshi’s Wallet Over Quantum Threat

      July 16, 2025

      Bitcoin under pressure as Satoshi-era whale sells: Will BTC drop to $108K?

      July 15, 2025

      BlackRock’s Bitcoin ETF Blows Past $80,000,000,000, Faster Than Any Other Exchange-Traded Fund in History: Bloomberg Analyst

      July 14, 2025

      Will Pi crash or rally in 2025?

      July 11, 2025
    • Technology

      Windtree Becomes First NASDAQ Firm to Add BNB to Its Balance Sheet

      July 18, 2025

      What is AI16Z – AMBCrypto

      July 17, 2025

      Bonk gains 15% to lead memecoins as altcoins eye rally

      July 16, 2025

      Comment on Trump Firing Powell Would Set ‘Very Bad Precedent,’ Warns Pompliano by Powell's Replacement? Fed Chair Succession Process Underway

      July 15, 2025

      Hungary Bans Unlicensed Crypto Platforms: Revolut and Bitstamp Suspend Services

      July 14, 2025
    • Learn/Guide

      $10.7 trillion Charles Schwab to launch spot Bitcoin, Ether trading, eyes stablecoin market entry

      July 18, 2025

      Russia’s largest bank Sberbank to roll out Bitcoin, crypto custody services to catch up with global banks

      July 17, 2025

      Trump Media files trademarks for Truth Social AI and AI Search

      July 16, 2025

      DOJ and CFTC drop investigations into Polymarket

      July 15, 2025

      FUNToken Isn’t Just Trending – It’s Consolidating Power in Telegram, One User at a Time

      July 14, 2025
    • NFTs

      1mouth Analog: miirror’s Raw Leap from Digital to Handmade Chaos | NFT CULTURE | NFT News | Web3 Culture

      May 9, 2025

      NFTCulture Expands Into TCGs with Cardcore.xyz: Where Digital Collectibles Meet Competitive Play | NFT CULTURE | NFT News | Web3 Culture

      May 8, 2025

      From Moonshots to Broken Links: The Rise and Fall of CloneX | NFT CULTURE | NFT News | Web3 Culture

      April 24, 2025

      Pacific Spirit: Vinyl Meets Code in a Groundbreaking Generative Drop on Art Blocks | NFT CULTURE | NFT News | Web3 Culture

      April 16, 2025

      Daizen: Elevating the NFT Multiverse on Apechain Blockchain | NFT CULTURE | NFT News | Web3 Culture

      December 5, 2024
    • Regulation

      SEC Drops Binance Lawsuit: How Regulatory Clarity Could Spark a BNB Price Rally

      May 30, 2025

      Kentucky Governor Signs Off On ‘Bitcoin Rights’ Bill, Strengthening Crypto Protections

      March 31, 2025

      Utah Moves Closer To Bitcoin Reserve As Bill Advances To Senate Standing Committee

      February 23, 2025

      Bitcoin ETFs In Focus As Kansas Senator Proposes Up To 10% Pension Fund Allocation

      January 26, 2025

      MicroStrategy May Face Tax Issues Over $19 Billion Unrealized Bitcoin Gains: Report

      January 25, 2025
    • Business

      Sri Lanka’s E-commerce Platform Kapruka to Introduce Crypto Payments

      November 17, 2024

      Leading Eastern European Exchange Exmo Sells Business in Russia, Belarus

      November 16, 2024

      Bank of Russia to Launch Digital Ruble Payment Infrastructure by July 2025

      November 15, 2024

      Bitcoin Mining Company Mara Holdings Now Holds 26,747 Bitcoin: Q3 Earnings Report Reveals

      November 14, 2024

      Brazil Prepares to Let Tradfi Institutions Embrace Crypto

      November 13, 2024
    • Live Pricing
    CryptoHoppers.comCryptoHoppers.com
    Home » DOJ appoints Forensic Risk Alliance as Binance monitor
    Technology

    DOJ appoints Forensic Risk Alliance as Binance monitor

    May 11, 20242 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    DOJ appoints Forensic Risk Alliance as Binance monitor
    Share
    Facebook Twitter LinkedIn Pinterest Email



    The Justice Department named Forensic Risk Alliance as Binance’s outside monitor after it pleaded guilty to violating U.S. money-laundering regulations and trade sanctions.

    According to sources who requested anonymity due to the confidentiality of the matter, the Forensic Risk Alliance (FRA) was selected over Wall Street law firm Sullivan & Cromwell and several other top contenders.

    Neither the Justice Department nor spokespeople for Sullivan & Cromwell or FRA provided immediate comments. The monitor appointment was a stipulation of Binance’s November plea agreement. The world’s largest crypto exchange also consented to pay $4.3 billion in penalties. Binance’s founder, Changpeng Zhao, pleaded guilty and agreed to step down as CEO, receiving a four-month prison sentence on April 30.

    FRA will ensure Binance’s compliance with the plea agreement, granting the firm access to internal records, facilities, and employees to report on the company’s activities to the government. FRA, known for its expertise in corruption, fraud investigations, and compliance, previously served as a consultant for Geneva-based commodities trader Gunvor SA during its $660 million resolution with the Justice Department over foreign bribery charges.

    Sullivan & Cromwell was initially the frontrunner for the role but faced setbacks due to its controversial work for FTX, a Binance rival. The firm’s involvement with FTX before its November 2022 bankruptcy and subsequent role as FTX’s main outside counsel raised concerns.

    Critics, including those who lost money in FTX’s collapse, argued that Sullivan & Cromwell failed to detect co-founder Sam Bankman-Fried‘s fraud. FTX’s new management, however, defended the firm against these accusations and praised its recovery efforts.

    FTX announced this week that it will fully compensate its customers with interest for any losses suffered in the bankruptcy.

    Despite not being selected as the outside monitor, Sullivan & Cromwell is anticipated to secure a separate five-year monitorship with Binance on behalf of the Treasury Department’s Financial Crimes Enforcement Network.

    The role involves identifying and reporting tens of thousands of suspicious activity transactions that the Treasury Department accused Binance of ignoring in the past.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Windtree Becomes First NASDAQ Firm to Add BNB to Its Balance Sheet

    July 18, 2025

    What is AI16Z – AMBCrypto

    July 17, 2025

    Bonk gains 15% to lead memecoins as altcoins eye rally

    July 16, 2025

    Comment on Trump Firing Powell Would Set ‘Very Bad Precedent,’ Warns Pompliano by Powell's Replacement? Fed Chair Succession Process Underway

    July 15, 2025
    Top Posts

    Ava Labs is excited to release the Firewood developer preview

    October 3, 2023

    4 Altcoins the Market Likes Better Than Ripple (XRP) Right Now

    March 8, 2025

    Google Cloud Makes Push into Metaverse by Partnering with MultiversX

    October 21, 2023

    Welcome to CryptoHoppers.com! Stay informed with the latest updates, trends, and insights from the dynamic world of cryptocurrencies. From Bitcoin to altcoins, blockchain technology to decentralized finance (DeFi), we cover it all. Discover expert analysis, market trends, regulatory developments, and exciting innovations shaping the crypto industry.

    Top Insights

    GENIUS Act Passes House with 308 Votes, Could Redefine Stablecoins and Supercharge U.S. Crypto

    July 18, 2025

    Bitcoin May Freeze Satoshi’s Wallet Over Quantum Threat

    July 16, 2025

    Bitcoin under pressure as Satoshi-era whale sells: Will BTC drop to $108K?

    July 15, 2025
    Advertisement
    Demo
    CryptoHoppers.com
    Facebook X (Twitter) Instagram
    • News
    • Technology
    • Learn/Guide
    • Regulation
    • NFTs
    • Business
    • Live Pricing
    © 2025. Designed by CryptoHoppers.com.

    Type above and press Enter to search. Press Esc to cancel.