Haciyev Reşit 
The world’s largest cryptocurrency exchange, Binance, is reportedly close to being relieved from one of the most critical obligations following its historic $4.3 billion settlement with the U.S. Department of Justice (DOJ). According to Bloomberg, discussions are ongoing between Binance and the DOJ to remove the requirement of having an independent compliance auditor.
This evening’s news also contributed to a new record for Binance’s native token, BNB. The market’s fifth-largest cryptocurrency surpassed $955, reaching an all-time high (ATH).
A New Phase in Binance’s U.S. Settlement
As is known, Binance agreed in 2023 to pay $4.3 billion in a lawsuit accusing the exchange of failing to implement anti-money laundering measures. Under this settlement, Binance had to work with independent auditors appointed by FinCEN, the U.S. Treasury Department’s financial crimes agency.
Recently, the U.S. Department of Justice (DOJ) has shown a more lenient stance toward independent auditors. During the Biden administration, three companies that were assigned auditors had this requirement removed. DOJ official Matthew Galeotti noted earlier this year that auditors are useful but create high costs and can complicate operations.
While Binance continues negotiations with the DOJ, the FinCEN-appointed independent auditor remains in place. If a new agreement is reached, Binance could be relieved of this obligation, only needing to submit comprehensive audit reports.
BNB Hits a New Record
Following the development, BNB’s price climbed to $962.29, marking a new all-time high. The token has gained 2.8% since yesterday and 8.1% over the past week, pushing its market capitalization above $132 billion and maintaining its position as the fifth-largest cryptocurrency.
Trading volume also rose by 36% to $3.3 billion, indicating that investors are actively participating in the rally. Experts say that institutional demand, the expansion of the Binance ecosystem, and expectations of regulatory clarity are supporting BNB’s upward momentum.
Key Factors Behind BNB’s Price Increase
- Institutional Demand: BNC, listed on Nasdaq, recently increased its BNB holdings to 325,000 tokens, valued at approximately $309 million.
- Network Upgrades: The Maxwell Upgrade reduced block times to 75 seconds, improving network efficiency.
- Regulatory Speculation: Expectations that Binance could be relieved from the compliance auditor requirement pushed the price higher.
- CZ Rumors: Speculation around the possible return of founder Changpeng Zhao created additional market optimism.
BNB Price Analysis: Is $1,000 Within Reach?
BNB tested $962.29 briefly and is now trading around $956. On the 4-hour charts, the price staying above key moving averages and the widening Bollinger Bands indicate strong bullish momentum.
- Resistance: $958 – $962
- Psychological Target: $1,000
- Critical Support: $925 (a close below this may trigger profit-taking, with $905 coming into play)
The RSI stands at 64, showing that while BNB looks strong, it has not yet entered the overbought zone.
Assessment
Binance’s approach toward relief from a critical U.S. obligation has boosted investor confidence, pushing BNB to record levels. Combined with reduced regulatory pressure, rising institutional interest, and supportive technical indicators, breaking $1,000 is no longer unlikely. However, investors should monitor the $925 support level closely.
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