In a surprising turn of events, BNB has surged by 17% in just 24 hours, surpassing the critical resistance level of 860. This price movement comes despite ongoing scrutiny from regulators, as a recent investigation by the Financial Times raises serious allegations against Binance regarding suspicious account activities. The publication provides the following information: the market's reaction to these developments has been notably volatile.
Binance's Alleged Facilitation of Suspicious Transactions
The Financial Times report claims that Binance facilitated the movement of hundreds of millions of dollars through accounts flagged for suspicious activity, even after the exchange's significant $43 billion criminal settlement. BNB briefly peaked at 868 before retracting to around 852, still trailing its all-time high of 1,370 from October by 38%.
Details of the Investigation
The investigation highlights internal documents revealing that 13 suspicious accounts managed a staggering $17 billion in transactions between 2021 and 2025. Notably, approximately $144 million in suspicious volume was recorded following Binance's plea agreement with U.S. authorities in November 2023. One account, linked to a resident of a Venezuelan slum, reportedly transferred $93 million during this period, with funds traced back to networks accused of financing Iran and Hezbollah.
Alarming Account Behavior
Additionally, another account exhibited alarming behavior, changing its payment bank details 647 times within 14 months while receiving over $177 million. Former federal prosecutor Stefan Cassella commented that such patterns are indicative of unregistered money-transmitting operations. In response, Binance asserted its commitment to strict compliance and a zero-tolerance policy towards illicit activities.
Concerns Over Compliance Measures
This investigation raises questions about the effectiveness of Binance's compliance measures in light of its settlement commitments. While other exchange tokens have shown more resilience, with LEO trading only 10% below its peak, BNB's current position remains concerning at 38% below its October high. The timing of the investigation coincides with U.S. federal prosecutors reviewing Binance's request to end independent monitoring ahead of the scheduled three-year period. Notably, founder Changpeng Zhao was pardoned by President Donald Trump in October after serving four months for anti-money laundering violations.
The cryptocurrency market is currently at a critical juncture for Bittensor's TAO token, which is facing key resistance and support levels. This situation contrasts with BNB's recent surge amidst regulatory scrutiny. For more details, see TAO analysis.
