Binance's Potential Fraud Charges Raise Concerns of Bank Run: Report

Binance, the largest cryptocurrency exchange, could potentially face fraud charges from the U.S. Department of Justice. However, prosecutors are considering alternatives such as fines and deferred or non-prosecution agreements due to concerns about the risk of a bank run similar to FTX's collapse. U.S. officials are worried that an indictment against Binance could have negative implications for the broader cryptocurrency industry. The price of Bitcoin and Binance's BNB token dropped following the report.