Binance CEO Changpeng Zhao resigns, pleads guilty to money laundering case for $4.3 billion

Changpeng Zhao, one of the biggest figures in the cryptocurrency world and CEO of Binance, has resigned and pleaded guilty to violating US anti-money laundering laws as part of a substantial $4.3 billion settlement, resolving a lengthy investigation into the world’s largest cryptocurrency exchange.

This resolution with the Justice Department, forming part of a broader settlement involving various U.S. agencies, addresses criminal charges related to operating an unlicensed money transmitter business, conspiracy, and breaching sanctions regulations.

Today, I stepped down as CEO of Binance. Admittedly, it was not easy to let go emotionally. But I know it is the right thing to do. I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for myself.

Binance is no longer a baby. It is…

— CZ