Binance CEO CZ Resigns: Will Also Admit the Accusations

Binance, the world’s largest cryptocurrency platform, has been on the agenda recently with its experiences with the US government. The exchange, which has been monitored by the US Department of Justice for years, was facing accusations in the case such as unlicensed money transfer, money laundering and violating US sanctions laws. At the center of the accusations C.Z. also known as CEO Changpeng Zhao There was.

Today, a report from Bloomberg revealed that the parties reached an agreement and Binance will pay more than $ 4 billion to the USA to end the case. Now, news has come like a bombshell to the cryptocurrency world.

Changpeng Zhao to admit accusations and resign as CEO

According to information obtained by Forbes and Wall Street Journal from sources close to the matter, CZ will be transferred to Binance within the scope of the $ 4.3 billion agreement made to end the case. Resigning as CEO he accepted. Additionally, Zhao said, “violating anti-money laundering lawsIt was learned that he will also accept the accusations.

Although Zhao is no longer the boss of Binance, according to the Wall Street Journal will be able to retain majority shares in the company. It is also among the information that the crypto billionaire will present his defense in the US Seattle court today, and his sentence will be given at a later date.

There is also no information on who will replace Zhao. However, according to allegations, the head of Binance’s regional markets department Richard Tengthe top candidate for CEO.

A statement about the $4.3 billion deal is expected to come from the US Department of Justice tonight. We will learn all the details when official statements come.