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Binance Ceo Changpeng Zhao Quits, Pleads Guilty, And Must Pay $200 Million Fine - Cryptocurrency - PostsMania

PostsMania Forum / Cryptocurrency / Binance Ceo Changpeng Zhao Quits, Pleads Guilty, And Must Pay $200 Million Fine (189 Views)

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Binance Ceo Changpeng Zhao Quits, Pleads Guilty, And Must Pay $200 Million Fine by admin: 11:55 pm On 11 Nov 2023

BINANCE AND ITS chief executive, Changpeng Zhao, pleaded guilty to criminal charges for anti-money laundering and violations of US sanctions under a sweeping deal with the US Department of Justice. The deal, which will allow the company to continue to operate, will also see Zhao step down as CEO. Binance will pay a $4.3 billion fine.

As well as leaving his role as CEO, Zhao will pay $200 million in fines as part of the settlement. He appeared earlier today in court in Seattle to plead guilty and faces a maximum sentence of 10 years in prison.

In court documents, Binance was charged with money-laundering violations, US sanctions violations, and conspiracy to conduct an unlicensed money-transmitting business. Binance admitted that it had failed to prevent and report suspicious transactions made by terrorist organizations, including Hamasâ€™ al-Qassam Brigades, the Islamic State, and al Qaeda.

www.wired.com/story/binance-cz-ceo-quits-pleads-guilty-breaking-law/

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