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    <p>Sullivan &amp; Cromwell, the law firm involved with the ongoing <a rel="noopener noreferrer nofollow" title="FTX" href="https://thebittimes.com/tag/ftx.html">FTX</a> <a rel="noopener noreferrer nofollow" title="bankruptcy" href="https://thebittimes.com/tag/bankruptcy.html">bankruptcy</a> case, is reportedly set to be appointed as <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>’s independent <a rel="noopener noreferrer nofollow" title="monitor" href="https://thebittimes.com/tag/monitor.html">monitor</a>, following its $4.3 billion settlement with the US government.&nbsp;</p>
    <p>As reported by Bloomberg, anonymous sources close to the matter claim that Sullivan &amp; Cromwell is the US Justice Department’s number-one pick, and its approval is close.&nbsp;</p>
    <p>Sullivan &amp; Cromwell reportedly beat out an array of rival legal firms for the position and firm partner Sharon Cohen Levin is likely to lead the monitorship team.&nbsp;</p>
    <p>The role will give Sullivan &amp; Cromwell access to Binance records, including details on past and present employers, and its facilities. The firm will then <strong>update the government at least six times over the coming years</strong> on any potential misconduct from Binance.&nbsp;</p>
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       US gov’t will probe Binance at least six times in three years
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    <p><em>Read more: Did Binance ex-chief CZ really come to the US voluntarily?</em></p>
    <p>If there’s misconduct involving senior management, threats to national security, or obstruction of justice, the law firm isn’t obliged to inform <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> and can report it directly to US authorities. <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> agreed to the probe as part of its plea agreement and will have to fix its compliance and anti-money laundering programs.&nbsp;</p>
    <p>Sullivan &amp; Cromwell handled <a rel="noopener noreferrer nofollow" title="FTX" href="https://thebittimes.com/tag/ftx.html">FTX</a>’s <a rel="noopener noreferrer nofollow" title="bankruptcy" href="https://thebittimes.com/tag/bankruptcy.html">bankruptcy</a> case, receiving <strong>$110 million in <a rel="noopener noreferrer nofollow" title="Legal" href="https://thebittimes.com/tag/legal.html">Legal</a> fees</strong>. Sam Bankman-Fried’s lawyers reportedly blamed&nbsp;the firm for setting him up as the fall guy following <a rel="noopener noreferrer nofollow" title="FTX" href="https://thebittimes.com/tag/ftx.html">FTX</a>’s collapse.</p>
    <p><em>Got a tip? Send us an email or ProtonMail. For more informed news, follow us on&nbsp;X,&nbsp;</em><em>Instagram</em><em>,&nbsp;</em><em>Bluesky</em><em>, and&nbsp;</em><em>Google News</em><em>, or subscribe to our&nbsp;</em><em>YouTube</em><em>&nbsp;channel.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ftx-bankruptcy-firm-sullivan-cromwell-tipped-for-binance-monitor-role-tbt80020.html">https://thebittimes.com/ftx-bankruptcy-firm-sullivan-cromwell-tipped-for-binance-monitor-role-tbt80020.html</a></p>

FTX bankruptcy firm Sullivan & Cromwell tipped for Binance monitor role

TheBitTimes

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