BNB, the cryptocurrency of Binance, experienced a price breakout to a 5-month high at $271.90. This surge in price coincided with reports from the Wall Street Journal stating that the United States Department of Justice (DOJ) is planning to announce a $4.3 billion settlement with Binance to resolve its case. Additionally, Binance founder Changpeng “CZ” Zhao has agreed to step down as CEO of the crypto exchange. While the exact details of the settlement are still unknown, market participants view this as a positive outcome that could have bullish implications for the crypto market. It is worth noting that historically, enforcement actions and the threat of new regulations have had a negative impact on crypto markets. However, data from Coinglass shows a surge in BNB volumes, open interest, and options volume over the past 24 hours. Despite the price reaching a 5-month high, there has been a retracement of a majority of the intra-day gains, suggesting a possible “buy the rumor and sell on the news” strategy at play. As always, readers are advised to conduct their own research and exercise caution when making investment decisions.