Sullivan & Cromwell Poised to Cinch Binance Watchdog Role (1)

New York law firm Sullivan & Cromwell is poised to be appointed Binance Holdings Ltd.’s independent monitor following the crypto giant’s multibillion-dollar settlement with the US government.

The white-shoe firm is the leading contender for the coveted monitorship, according to people familiar with the selection process, likely beating a crowded field of lawyers and consultants vying for what’s seen as a lucrative watchdog role. Former federal prosecutor and firm partner Sharon Cohen Levin would likely lead the monitorship team, said one of the people, who asked to remain anonymous to discuss the confidential matter.

While the appointment hasn’t been ...