But he can continue working
The CEO of Binance, the largest global cryptocurrency exchange, has resigned and pleaded guilty to violating US criminal anti-money laundering laws, according to court documents. Changpeng Zhao made a deal that would allow the company to continue operating. As part of this agreement, the exchange will pay a fine of $4.3 billion.
Changpeng Zhao appeared in federal court in Seattle on Tuesday, November 21, and entered a guilty plea. Prosecutors accused Binance, which Zhao owns, of facilitating transactions with sanctioned groups. Binance encouraged U.S. users to hide their locations so the firm could avoid U.S. anti-money laundering laws, prosecutors said.
“Today I stepped down as CEO of Binance. <...> I made mistakes and I must take responsibility. This is what is best for our community, for Binance and for myself,” Zhao said on his page on the social network X.
Founded in 2017, Binance cryptocurrency exchange is the world's leading digital asset trading system.