Binance, CEO to Plead Guilty to Criminal, Civil Charges - WSJ

(Updated - November 21, 2023 12:25 PM EST)

Binance and its CEO Changpeng Zhao will plead guilty to criminal and civil charges, according to a report from the Wall Street Journal.

Regulators will fine the crypto exchange $4.3 billion, and Zhao will step down and will not be allowed to have an executive role at the company but he will retain his majority ownership.

Binance's CEO will plead guilty to violating U.S. anti-money laundering requirements.

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