


The founder and CEO of Binance plans to step down and plead guilty to violating criminal anti-money laundering requirements, The Wall Street Journal reported, resolving a years-long investigation into the world’s largest crypto exchange.
The deal also call for Changpeng Zhao pay fines totaling $4.3 billion, which includes amounts to settle civil allegations made by regulators, the Journal reported
On Monday, Bloomberg reported that the Justice Department was seeking $4 billion from the firm.
Binance has been under Justice Department’s scrutiny since at least 2018, just one of a string of legal and regulatory headaches it faces in the US.
Federal prosecutors asked the company in December 2020 to provide internal records about its anti-money laundering efforts, along with communications involving Zhao.