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The U.S. government dealt a massive blow to Binance, the world’s largest cryptocurrency exchange, which agreed to pay a roughly $4 billion settlement Tuesday as its founder and CEO Changpeng Zhao pleaded guilty to a felony related to his failure to prevent money laundering on the platform. Zhao stepped down as the company’s chief executive…

Changpeng Zhao, who started the world's largest cryptocurrency exchange, pleaded guilty to one count of failure to maintain an effective anti-money-laundering program.

The charge was similar to practices uncovered after the collapse of the second largest cryptocurrency exchange, FTX, last year.

The U.S. government has dealt a massive blow to Binance, the world’s largest cryptocurrency exchange. The company agreed to a roughly $4 billion settlement with the U.S. over violations of

SEATTLE (AP) — The founder of Binance, the world’s largest cryptocurrency exchange, pleaded guilty Tuesday to a felony charge that he failed to take steps to prevent money laundering as