22 Nov 2023

Binance CEO Changpeng Zhao (CZ) is out, but Binance survives as part of a DOJ settlement

-> Binance CEO Changpeng Zhao has agreed to step down from his role at the world's largest crypto exchange as part of a settlement with the U.S. Department of Justice. -> He also plans to plead guilty to violating criminal U.S. anti-money-laundering requirements that would potentially allow the exchange to keep operating, people familiar with the matter have told the Wall Street Journal. -> Zhao will appear in federal court in Seattle on Tuesday to enter his guilty plea, the sources told the news outlet. Binance, the international crypto exchange that Zhao founded and owns, will plead guilty and pay $4.3 billion in fines and settlements with authorities. It's amazing how US markets keep pricing cuts. When the Minutes reiterate, yet again, that while the Fed are cautious they still have a tightening bias. Source: Decrypt


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