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Binance CEO pleads guilty, resigns; crypto exchange settles with regulators

Changpeng Zhao
Changpeng Zhao. Photo: Horacio Villalobos#Corbis/Getty Images

Julie DiMauro

3 min read
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Changpeng “CZ” Zhao, CEO of Binance, resigns from world’s largest crypto exchange after pleading guilty to breaking US anti-money-laundering laws.

The $4.3 billion settlement resolves a years-long probe into the world’s largest crypto exchange, the US Department of Justice (DOJ) announced. Zhao could face 18 months in prison.

The Department of the Treasury’s Office of Foreign Assets Control (OFAC) and its Financial Crimes Enforcement Network (FinCEN) also announced a $9.68m settlement

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