Binance founder Changpeng Zhao pleads guilty in deal to end U.S. criminal probe

Binance cofounder Changpeng Zhao, one of the most prominent figures in the crypto world, pleaded guilty on Tuesday to a criminal charge of violating the U.S. bank secrecy act, and agreed to step down as head of the company, as part of a broad settlement with U.S. authorities.

The plea deal with federal prosecutors was accompanied by a $4.3 billion fine on Binance itself levied by the Department of the Treasury. The agreement allows for the crypto exchange to continue without its charismatic founder running operations.

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