Changpeng Zhao, brawling titan of Binance, meets a sudden defeat

Wednesday, 22 November 2023
Changpeng Zhao, the former CEO of Binance, pleaded guilty to criminal charges for anti-money laundering and US sanctions violations, including allowing transactions with terrorist groups, in a Seattle courtroom. Binance itself agreed to plead guilty and pay over $4 billion in penalties. Zhao's capitulation comes as international regulators have been cracking down on Binance and the broader cryptocurrency industry. This marks the second time in less than a year that a prominent figure in the crypto world has faced legal troubles.

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