Binance CEO Pleads Guilty, Agrees to Pay $50 Million Fine

Bloomberg agre Binance Holdings Ltd.’s riminal charges and pay a Changpeng Zhao fine.

Chief Executive Officer Changpeng Zhao agreed to step down as pa $50 million ettlem Tuesday Binance allowed at least 1.1 million tr the Justice Department than $898 million, involving customers in Iran.

The d Bloomberg a Zhao rs-long investigation into the cryptocurrency exchange. the Treasury Department ightT the Commodity Futures Trading Commission mmaryFeed_highLightText__NxlGi">Bloomberg Businessweek $4.3 billion rom threeyears span class="summaryFeed_highLightText__NxlGi">Binance Tuesday Te Binance Gi">one three lass="summaryFeed_highLightText__NxlGi">David Voreacos Yueqi Y US g at least 1.1 million chael P. Regan more than $898 million Feed_highLightText__NxlGi Iran ericans Zhaotwo Binance Bloomberg News class="summaryFeed_highLigh Monday _NxlGi">Secur US ies and Exch More than $4 Billion n> CFTC US eed_highLightText__NxlGi">Bankman-Friedbillions of dollars maryFeed_highLightText__NxlGi">multibillion-dollar US i">New BNB k Binance hLightText__NxlGi">S about 5% an-Fried five-month Text__NxlGi">The the day Department DOJ class="summaryFeed_highLightText__NxlGi">CCDataUS Merrick Garland htTex Treasury ">this mont Janet Yellen pan class="summaryFeed_highLightT 3:00 pm lGi">le Tuesday 44% Criminal Charges The Justice Department pan class="summaryFeed_highLightText__NxlGi">more than 60%Zhao > US 17 about August 2017 xlGi">t October 2022 ep Binance Zhao one US aryFeed_highLightText__NxlGi">Crypto Crackdown U.S. __NxlGi">Brian Tsuchida 18 months U.S. ighLightText__NxlGi">n’t Binance yFeed_highLightText__NxlGi">Zhao 6 monthsUS Tuesday 2017 lass="summary more than 23% tTex Binance i">up to $500,000US 10 yearsZhao span class="summaryFeed_highLightTe US __NxlGi">Zhao 2019 ext__NxlG Binance US pan class="summaryFeed_highLightText__NxlGi">today