US Authorities Subpoena Hedge Funds in Binance Investigation

The US Department of Justice is intensifying its scrutiny of Binance, the world's largest cryptocurrency exchange. Recent reports indicate US authorities subpoena hedge funds as part of a broader investigation into Binance's operations and potential violations.

United States prosecutors are reportedly investigating hedge funds’ relationships with Binance as part of a long-running money laundering probe. This investigation is focused on understanding the extent of financial interactions between these entities and the cryptocurrency platform.

Federal prosecutors are investigating the relationship between Binance and U.S.-based hedge funds as part of a broader investigation into the cryptocurrency exchange's practices. Subpoenas are being issued to gather comprehensive data on these relationships.

U.S. hedge funds are being subpoenaed to hand over information of its dealings with cryptocurrency platform Binance as part of a federal investigation into potential illicit activities. The focus is on uncovering any evidence of money laundering or other financial crimes.

In one of the latest reports by The Washington Post, the US federal authorities are looking into the relationship between American hedge funds and Binance, signalling a significant escalation in the investigation. The Federal prosecutors have reportedly issued subpoenas to several U.S. hedge funds that have dealt with the world’s largest cryptocurrency exchange, Binance Global Inc.

The investigation comes as The US Department of Justice is seeking more than $4bn from Binance to settle a criminal investigation that has ensnared the world’s biggest cryptocurrency exchange. This settlement figure underscores the gravity of the allegations and the potential consequences for Binance.

Stay updated on this developing story as the US authorities continue their investigation into Binance and its relationships with US-based hedge funds.