Read

/send

<div class="protos">
 <div>
  <div>
   <div>
    <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>
    <figure class="wp-block-embed is-type-wp-embed is-provider-protos wp-block-embed-protos">
     <div class="wp-block-embed__wrapper">
      <blockquote class="wp-embedded-content" data-secret="N7yI37ayFy">
       US gov’t will probe Binance at least six times in three years
      </blockquote><iframe class="wp-embedded-content" sandbox="allow-scripts" security="restricted" style="position: absolute; clip: rect(1px, 1px, 1px, 1px);" title="“US gov’t will probe Binance at least six times in three years” — Protos" src="https://protos.com/us-govt-will-probe-binance-at-least-six-times-in-three-years/embed/#?secret=90Ec7GiNGs#?secret=N7yI37ayFy" data-secret="N7yI37ayFy" width="500" height="282" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"></iframe>
     </div>
    </figure>
    <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>
   </div>
  </div>
 </div>
</div>
<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

2024년 2월 16일에 게재된 다른 기사

Ark Invest Sells Coinbase Shares Following Profit Report

Shiba Inu (SHIB) and Dogecoin (DOGE) Millionaires Gearing Up for 2024 Bull Run, But With New Cryp...

Terra Classic and Terra Luna Price Prediction: Is This A Comeback Year For Terra?

Bitcoin and Ethereum Price Prediction For Coming Weeks: Here’s What To Expect

MicroStrategy listing in the S&P 500 index could expose millions to Bitcoin

Ethereum Sees Surge in Validator Interest

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!