Cryptocurrency exchange Binance reportedly under DOJ investigation

A headline across the Bloomberg says Binance is facing probes by the U.S. Justice Department and the IRS.The news has sent Binance Coin (BNB-USD) sharply lower, now off nearly 12% for the session. That coin had previously been about a 15-bagger over the previous year. The news has also cut short a very modest bounce in bitcoin (BTC-USD), which has now slid back below $49K. Competitor exchange Coinbase (COIN), is now down 6.5% to a session low.In terms of trading volume, Binance is the globe's largest crypto exchange, but closed itself off to U.S. users last year, moving them to Binance.US.The FUD is strong today, with this Binance story coming on top of Tesla's retreat from Bitcoin transactions.