Changpeng 'CZ' Zhao, the CEO of the crypto exchange giant Binance, is in talks about stepping down, Forbes reported, citing a source familiar with the matter. 

A departure could come as part of a $4 billion settlement the firm is negotiating with the U.S. Department of Justice, Forbes added. On Monday, Bloomberg reported that the DOJ was seeking billions to end its years-long investigation of the firm. 

The Department of Justice will hold a press conference at 3:00 p.m. ET on Tuesday. Bloomberg News reported earlier in the day that the announcement involved a Binance settlement. 

Binance did not immediately to a request for comment from The Block.