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NY Post
New York Post
21 Nov 2023


NextImg:Binance CEO agrees to step down, plead guilty, pay $4.3B in fines: report

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.

CEO Changpeng Zhao agreed to step down, according to a report.
REUTERS

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.