Binance might presumably well pay larger than $4 billion if it has the same opinion to a U.S. Division of Justice (DOJ) proposal for resolving a criminal probe into the sector’s greatest cryptocurrency alternate, Bloomberg reported on Monday, citing unnamed sources.

But discussions between Binance and the DOJ acquire left initiate the chance that the alternate’s founder, Changpeng “CZ” Zhao might presumably well tranquil face criminal costs, Bloomberg reported.

The DOJ has been investigating Binance for money laundering, bank fraud and violation of U.S. sanctions. A $4 billion penalty would unhealthy among the supreme ever in the crypto commerce. However the proposal might presumably well moreover enable Binance to proceed operations and preserve a ways flung from a crumple that would seemingly ripple by scheme of the commerce – a scenario among U.S. officials.

An announcement might presumably well happen before Dec. 1, although the negotiations are fluid, Bloomberg reported citing its sources. Zhao lives in the United Arab Emirates, which doesn’t acquire an extradition treaty with the U.S., Bloomberg reported.

Binance’s BNB token jumped larger than 8% in the hour following the news to commerce above $259. BNB became all once more these days changing hands a small bit over $256, up when it comes to 4% all around the last 24 hours.

Neither Binance nor the DOJ responded to an Unchained query for comment at the time of newsletter.

Binance has been coping with perfect and regulatory scrutiny on more than one fronts. In June, the Securities and Trade Commission (SEC) sued Binance, Zhao and Binance.US in June for allegedly itemizing unregistered securities as cryptocurrencies for trading and investment by U.S. buyers. And in March, the U.S. Commodity Futures Procuring and selling Commission (CFTC) sued Binance and Zhao, accusing them of knowingly providing unregistered crypto derivatives products in violation of federal law.

Read More: SEC’s Secret Court Submitting in Binance Case Could presumably well moreover Mean DOJ Prison Probe

Binance has pushed back vigorously towards both those filings, asking courts in September and October to push apart the SEC and CFTC suits.

DPAs

In a so-called deferred prosecution agreement (DPA), the DOJ would file criminal costs nonetheless no longer push forward with the prosecution as long as Binance fulfills sure obligations, including the price of a stiff monetary penalty and acknowledgement of wrongdoing. Binance would moreover must remain in compliance with the agreement.

But in a posting on X (formerly Twitter), previous SEC unswerving John Reed Stark forged doubt on Binance’s ability to appear at by scheme of on this form of settlement, which he termed “remarkable on more than one ranges.”

“The stark reality is that neither Binance nor any various mega-crypto agency has ever been birthday party to a U.S Justice Division deferred prosecution agreement, which can seemingly be tantamount to present process a 24-7, 365 days a year monetary colonoscopy – and paying millions of dollars for the privilege,” he wrote. “Moreover, unless right here is a world settlement with all law enforcement and regulators, Binance moreover faces remarkable doable collateral penalties after signing any get of DPA.”