Breaking: Sullivan & Cromwell Heads To Become Binance’s Watchdog

• Reports state that Sullivan & Cromwell will most likely be appointed Binance’s independent monitor.
• The law firm’s partner and former federal prosecutor, Sharon Cohen Levin, is poised to lead the monitoring team.
• The team will scrutinize Binance’s compliance with its plea agreement and cross-examine its financial records.

According to the latest reports, the American multinational law firm Sullivan & Cromwell is expected to be appointed Binance’s independent monitor after the crypto exchange’s $4.3 billion settlement with the U.S. government. Sources familiar with the matter reported that Sharon Cohen Levin, the law firm’s partner and former federal prosecutor, would likely lead the firm’s watchdog team.

Though the Department of Justice (DoJ) hasn’t signed off on Sullivan & Cromwell’s appointment, reports stated that the department is most likely to approve it. However, the department, the law firm, and the exchange remain silent on the matter, declining to comment.

The current development is part of a larger saga involving Binance and its former CEO, Changpeng Zhao. Last year, the Securities and Exchange Commission (SEC) filed a lawsuit …

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