BNB gained 1.7% in 24 hours to break above $860 resistance but underperformed the broader cryptocurrency market.

The modest gain came as the Financial Times published an investigation alleging Binance allowed hundreds of millions of dollars through suspicious accounts even after its $4.3 billion criminal settlement.

BNB briefly touched $868 before pulling back to trade around $852.

The exchange token trails its October all-time high of $1,370 by 38%.

What Happened

The Financial Times investigation cited internal files showing 13 suspicious accounts collectively handled $1.7 billion in transactions from 2021 through 2025.

Approximately $144 million in suspicious volume occurred after Binance's November 2023 plea agreement with U.S. authorities.

One account linked to a Venezuelan slum resident moved $93 million between 2021 and 2025, with funds traced to networks later accused of moving money for Iran and Hezbollah, according to the report.

Another account changed payment bank details 647 times in 14 months while receiving over $177 million.

Former federal prosecutor Stefan Cassella told the FT such patterns resemble unregistered money-transmitting businesses.

Binance responded it "maintains strict compliance controls and a zero-tolerance approach to illicit activity."

Why It Matters

The timing reveals potential gaps between Binance's settlement commitments and actual compliance execution.

Other exchange tokens showed more resilience relative to their peaks.

LEO trades about 10% below its high, while BNB sits 38% below its October peak, according to market data.

The investigation arrives as U.S. federal prosecutors review Binance's request to terminate independent monitoring ahead of the three-year schedule.

President Donald Trump pardoned founder Changpeng Zhao in October following his four-month prison sentence for anti-money laundering violations.