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Binance, a cryptocurrency exchange, pleaded guilty to US DOJ and agreed to a settlement worth 4.3 billion dollars which also included the proviso that its CEO, Changpeng Zhao, step down.
With Changpeng “CZ” Zhao stepping aside as part of a $4 billion settlement, the crypto exchange is considering replacing him with the Binance executive, according to a source familiar.
The deal, which will include charges against individuals and resolve allegations the company violated illicit finance and money-laundering laws, involves multiple US agencies: the Justice Department, the Commodity Futures Trading Commission (CFTC) and the Treasury Department's Financial Crimes Enforcement Network, the source said.