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Binance and CEO Plead Guilty to Money Laundering Violations

Katie Lin

Summary: Binance and its CEO Changpeng Zhao has pleaded guilty to money laundering violations, the government said on Tuesday. As part of the plea agreement, Binance will pay fines totaling $4.3 billion, which will be distributed among the Justice Department, the Commodity Futures Trading Commission, and the Treasury Department. Changpeng Zhao, having pleaded guilty to the Bank ...

Binance and its CEO Changpeng Zhao has pleaded guilty to money laundering violations, the government said on Tuesday.

As part of the plea agreement, Binance will pay fines totaling $4.3 billion, which will be distributed among the Justice Department, the Commodity Futures Trading Commission, and the Treasury Department. Changpeng Zhao, having pleaded guilty to the Bank Secrecy Act, is set to pay a $50 million fine and resign from his position as CEO.

Author: Katie Lin

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