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Dubai News Club > Tech > Binance founder’s sentencing hearing
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Binance founder’s sentencing hearing

Press Room
Last updated: 2024/04/30
Press Room
Published: April 30, 2024
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Changpeng “CZ” Zhao, the owner and CEO of the cryptocurrency exchange Binance, has agreed to step down and plead guilty to breaking anti-money-laundering laws, according to papers filed in a Seattle court on Tuesday. This comes as part of the major settlement the Department of Justice announced this afternoon, which will require Binance to fork over $4.3 billion in fines.

Zhao also agreed to pay $50 million, and sentencing will occur at a later date. “Today, I stepped down as CEO of…

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