Changpeng Zhao has pleaded guilty to violating US laws against money laundering at the world’s largest crypto exchange.
Browsing: Changpeng Zhao
Changpeng Zhao should serve 36 months in prison after pleading guilty to violating money laundering laws, prosecutors said.
If 2022 was the year that “broke bitcoin”, 2023 has been the year of trauma recovery.
Bitcoin’s chances of hitting $40 000 are top of mind for crypto speculators.
Changpeng Zhao had long cultivated the image of the rugged pugilist of the cryptocurrency world.
Binance CEO Changpeng “CZ” Zhao will admit violating US laws as part of a $4-billion criminal settlement.
Binance users reportedly traded $90-billion of crypto in a single month in China, where such trading has been illegal since 2021.
Crypto exchange Binance and related entities shuttled some $70-billion through accounts at now-defunct Silvergate Bank and Signature Bank.
Investors are grappling with news that the US securities regulator has sued crypto exchange Binance.
The US has sued Changpeng Zhao and his Binance cryptocurrency exchange for alleged violations of derivatives regulations.