Changpeng Zhao (CZ) resigns as #Binance CEO

Changpeng Zhao (CZ) resigns as #Binance CEO

1 BREAKING: Changpeng Zhao (CZ) resigns as CEO of Binance.

2.Binance CEO CZ pleads guilty to criminal anti-money laundering violations.

Changpeng Zhao, the founder of Binance, has agreed to step down and has pleaded guilty.

In addition, Zhao's will confess guilt and agree to pay $4.3 billion in fines.

- US Government criminally charges Binance.

- Binance agrees to pay $4.3 billion in Settlement with US Government.

- Changpeng Zhao (CZ) resigns as Binance CEO.

- CEO CZ pleads guilty to violating criminal anti-money laundering requirements.

- CEO CZ will be able to maintain his majority ownership of Binance. The agreement allows the exchange to continue its operations.

News Source: Watcher.Guru

BREAKING: Changpeng Zhao (CZ) resigns as #Binance CEO.

— Watcher.Guru (@WatcherGuru) November 21, 2023

According to court documents, the CEO of Binance, the largest global cryptocurrency exchange, stepped down and pleaded guilty to violating criminal anti-money-laundering regulations in an agreement that may allow the company to continue functioning.

Binance CEO Changpeng Zhao may resign as part of a $4 billion settlement between the US Department of Justice and the business, according to Forbes, citing a source familiar with the situation.

According to a source familiar with the situation, US government officials are anticipated to announce a settlement with Binance Holdings, ending a years-long investigation into the world's largest crypto exchange.

According to the source, the agreement, which includes charges against individuals and resolution of allegations of violations of the Bank Secrecy Act and other US laws, involves multiple US agencies, including the Justice Department, the Commodity Futures Trading Commission, and the Treasury Department's Financial Crimes Enforcement Network.