Today’s negative news about Binance Coin (BNB) involves several significant developments:

1. Criminal Charges Against Binance: The U.S. Department of Justice has filed criminal charges against Binance. These charges state that Binance had inadequate anti-money laundering procedures, leading to transactions involving illicit services and laundering proceeds from various illegal activities. The indictment also mentions Binance prioritizing growth over compliance with U.S. law, contributing to it becoming the world’s largest cryptocurrency exchange. Binance’s CEO, Changpeng Zhao, has pleaded guilty to all charges .

2. Substantial Decline in BNB Value: BNB has faced a substantial decline following the resignation of Binance CEO Changpeng Zhao (CZ). This resignation came in the wake of a $4.3 billion settlement with the SEC, related to Binance’s involvement in funneling money to Hamas. The BNB coin price dropped significantly from $266.82 to $227.61 between November 21 and December 4, reflecting a 14% price decline .

3. Binance’s Regulatory and Operational Secrecy: Binance’s new CEO, Richard Teng, has maintained secrecy regarding the company’s global headquarters. This aligns with the former CEO’s stance and underscores the enigmatic presence of Binance’s operational and regulatory command centers. Despite Binance’s registration in Malta, local authorities have dismissed jurisdictional claims over the company .