US officials are investigating the relationship between Binance and US-based hedge funds as part of an investigation into violations of money laundering laws.
According to the news of the Washington Post, no charges have been brought against the company, which was subjected to intense scrutiny after the collapse of FTX.
US Officials Continue to Investigate Binance
Citing two people who reviewed one of the subpoenas, the Washington Post noted that the Washington Western District Attorney’s Office in Seattle has in recent months sent subpoenas to companies requesting records of their dealings with Binance.
The subpoenas come at a time when Binance is facing regulatory scrutiny. These reviews came with the crisis that followed the collapse of FTX.
Subpoenas do not mean that authorities will automatically bring charges against Binance or its founder and CEO, Changpeng “CZ” Zhao. The source stressed that federal officials are still discussing a potential deal with Binance.