Fine

Billion

CZ, CEO of Binance, the largest global cryptocurrency exchange, plans to resign and plead guilty to violating U.S. anti-money laundering requirements in a deal that could preserve the company's ability to continue operating, according to people familiar with the matter. 
These sources said that Changpeng Zhao will appear in the Seattle federal court this afternoon US time and make his defense. Zhao-owned Binance will also plead guilty to the charges and agree to pay fines totaling $4.3 billion, including amounts that would resolve legal claims filed by regulators, the people said. 
The deal will allow Zhao to retain a majority stake in Binance, but he will not be able to take on an executive role at the company. He will be sentenced at a later date. 
The outcome is similar to an earlier case that prosecutors filed against executives of BitMEX, a Seychelles-based crypto derivatives trading exchange. Its former CEO, Arthur Hayes, was convicted of violating the anti-money laundering law and was later sentenced to two years of supervised release, avoiding a possible prison sentence of six to 12 months. 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/breaking-binance-to-pay-4-3-billion-fine-binance-ceo-cz-pleads-guilty-and-resigns/">BREAKING: Binance to Pay $4.3 Billion Fine – Binance CEO CZ Pleads Guilty and Resigns</a>

BREAKING: Binance to Pay $4.3 Billion Fine – Binance CEO CZ Pleads Guilty and Resigns

Bitcoin Sistemi EN

Other articles published on Nov 21, 2023

Binance’s Implosion Proves Decentralized is Safer as FTX Collapse is Happening Again

CZ releases statement on Binance resignation and guilty plea

BNB Rallies Following Reports of DOJ Seeking $4,000,000,000 Settlement With Binance: Report

LBank unveils third Launchpad featuring ACGN Protocol's AIMEME token

Kronos Research experiences significant cybersecurity breach

Blast Layer-2 network launch draws both interest and criticism over potential yield model

Join our free newsletter for daily crypto updates!