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Binance CEO agrees to step down, plead guilty in $4B settlement: report

Binance CEO Changpeng Zhao has resigned after pleading guilty to money laundering violations, stating "I made mistakes, and I must take responsibility."
The Justice Department has required Binance to pay $4.3bn in penalties and forfeitures and report suspicious activity to federal authorities to aid in criminal investigations.
Richard Teng has been named the new CEO of Binance, as the company faces charges for conducting an unlicensed money transmitting business and violating financial laws.

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CBC News

Binance's Canadian CEO steps down, pleads guilty to breaking anti-money laundering laws

Binance chief Changpeng Zhao stepped down and pleaded guilty to breaking U.S. anti-money laundering laws as part of a $4.3 billion US settlement resolving a years-long probe into the world's largest crypto exchange, prosecutors said on Tuesday.

1 year ago·Canada

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Liberation

Cryptocurrencies: CZ, the iconic boss of Binance, will resign

The largest cryptocurrency exchange Binance signed an agreement with the American authorities on Tuesday, November 21. She will have to pay two fines of 3.4 billion and 968 million dollars and her boss Changpeng Zhao will have to leave his post.

1 year ago·Paris, France

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Inquirer

Binance's Zhao pleads guilty, steps down to settle US illicit finance probe

NEW YORK – Binance chief Changpeng Zhao stepped down and pleaded guilty to breaking U.S. anti-money laundering laws as part of a $4.3-billion settlement resolving a years-long probe into the world’s largest crypto exchange, prosecutors said on Tuesday. The deal, which will see Zhao personally pay $50 million, was described by prosecutors as one of

1 year ago·Manila, Philippines

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Benzinga

Bitcoin, Ethereum, Dogecoin Tumble After Binance CEO Changpeng Zhao Resigns, Pleads Guilty To Felony Charge: Analyst Warns Apex Crypto Could Crash Over 40%

Major cryptocurrencies experienced a downturn on Tuesday evening following a significant development involving Binance.

1 year ago·New York, United States

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Live Mint

Binance's Changpeng Zhao pleads guilty, steps down to settle US illicit finance probe

Binance chief Changpeng Zhao has stepped down and pleaded guilty to breaking US anti-money laundering laws as part of a $4.3 billion settlement, one of the largest corporate penalties in US history.

1 year ago·New Delhi, India

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Rappler

Binance's Zhao pleads guilty, steps down to settle US illicit finance probe

NEW YORK, USA – Binance chief Changpeng Zhao stepped down and pleaded guilty to breaking US anti-money laundering laws as part of a $4.3 billion settlement resolving a years-long probe into the world’s largest crypto exchange, prosecutors said on Tuesday, November 21. The deal, which will see Zhao personally pay $50 million, was described by prosecutors as one of the largest corporate penalties in US history. It is another blow to the crypto ind…

1 year ago·Philippines

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