DOJ Brings Criminal Charges Against Biggest Crypto Exchange Binance and Its CEO – Changpeng Zhao Will Resign as Part of a 4.3 Billion Settlement
Binance and its CEO Zhao add to the (apparently) never-ending crypto woes.
After the trial and conviction of FTX’s Sam Bankman-fried, crypto enthusiasts thought that all was going to be well with the industry from now on, right? Wrong.
In the latest (and gravest) blow to the embattled crypto industry, the U.S. Department of Justice has brought criminal charges against Binance and its billionaire founder and CEO, Changpeng Zhao.
Zhao pleaded guilty to violating and causing a financial institution to violate the Bank Secrecy Act.
The U.S. DOJ charges Binance of, among other things, of ‘knowingly and willfully’ caused the supply of services to Iran, in breach of U.S. sanctions.
CNBC reported:
“Binance chief Changpeng Zhao will plead guilty to criminal charges and step down as the company’s CEO as part of a $4.3 billion settlement with the Department of Justice,
