The case between the USA and the cryptocurrency exchange Binance was concluded the other day. Accordingly, the founder and CEO of the company Changpeng Zhao (CZ) accepted the allegations of money laundering and resigned from his position. New Binance CEO was announced after this decision. Here is the official statement from the cryptocurrency exchange.
Who is the new Binance CEO Richard Teng?
Binance has reached a significant settlement with the US Department of Justice and the Securities and Exchange Commission. After this partnership, the company placed its US operations on a legal basis. It will pay a penalty of $4.3 billion for operations carried out since 2018.
According to the statement made by Binance, an official agreement was made with the US Securities and Exchange Commission (SEC) and the FinCEN unit of the Ministry of Treasury. Accordingly, Binance’s allegations of illegal use of US users’ funds or market manipulation were rejected.
Binance CEO accepted the accusations and resigned! What will happen now?
Changpeng Zhao, the founder and CEO of Binance, resigned after admitting money laundering charges against him. Here are the details…
After the agreement, Binance’s founder and chairman Changpeng Zhao (CZ) left his position and moved to a consultancy position. He was replaced by Global Head of Regional Markets, who has 30 years of finance experience. Richard Teng was brought.
In the company statement, the compliance process was successfully completed and There will be no change in user experience he stated. It was reported that thanks to the agreement, Binance’s activities in the USA became completely legal.
In the statement shared by Binance, it was said: “Our business continued to bring millions of new users into the system even during the bear market in 2022, and we exceeded the 150 million registered user milestone in 2023.”
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