Binance Monitorship Granted to FRA Instead of Sullivan & Cromwell - Bloomberg
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Justice Department Grants Binance Monitorship to FRA Over Sullivan & Cromwell

  • Three-year monitorship is condition of Binance’s plea deal
  • Sullivan & Cromwell’s work for FTX made it controversial
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The Justice Department has picked consulting firm Forensic Risk Alliance to act as outside monitor for Binance Holdings Ltd., which pleaded guilty to violating US money-laundering regulations and trade sanctions.

FRA was chosen over elite Wall Street law firm Sullivan & Cromwell, the initial favorite for the role, and several other top contenders, according to people who asked not to be named because the matter is confidential.

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