Binance Founder Changpeng Zhao To Step Down

Binance’s Founder Changpeng Zhao, commonly known as “CZ,” is expected to step down from Binance, the company he founded in 2017. According to sources familiar with the matter, he is expected to plead guilty to violating criminal U.S. anti-money laundering requirements.

CZ is expected to appear in front of a federal court today, will plead guilty to violating criminal U.S. anti-money laundering requirements, and agree to pay fines totaling $4.3 billion, including amounts to settle civil allegations made by regulators.

This deal would mark the end of a long-running investigation into Binance by various American agencies, including the Department of Justus and the Securities and Exchange Commission. Still, it would allow him to keep his majority ownership stake in Binance.


Information for this story was found via Bloomberg and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

The Goal is Gold Production as Soon as Possible! | Gordon Robb – ESGOLD Corp.

Snowline Gold: The Multi Billion Dollar Valley PEA

Euro Sun: Rovina Copper-Gold Project Secures Some Major Funding

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

Binance Deal To Buy Voyager Faces Looming Threat Of US National Security Review

Binance’s plans to acquire what remains of the bankrupt crypto lender Voyager Digital could be...

Wednesday, January 4, 2023, 05:10:00 PM

“We Don’t Want Binance To Be Regulated Ever” And Other Highlights In The SEC Complaint

The Securities and Exchange Commission (SEC) has filed a significant lawsuit against Binance, the world’s...

Thursday, June 8, 2023, 06:11:00 AM

After Binance, CFTC Warns It “Will Not Stop In Pursuit Of Non-US Crypto Entities”

In recent years, the cryptocurrency industry and its prominent figures have faced considerable challenges. The...

Friday, November 24, 2023, 08:17:41 AM

Court Weighs Binance’s Fate as SEC Continues To Investigate

The Securities and Exchange Commission (SEC) continues its investigation into Binance and its founder, Changpeng...

Tuesday, November 28, 2023, 09:41:26 AM

BRIEF: A Glance at Datametrex AI’s Share Structure

Datametrex AI Limited (TSXV: DM) had an excellent trading day yesterday. After an early morning...

Tuesday, December 19, 2017, 08:00:05 AM