Binance has just reached an agreement with the American justice system, which will lead to the departure of its legendary boss Changpeng Zhao (CZ).
This is a file that has been dragging on for a long time now. American justice was on the trail of Binance, the world number 1 in cryptocurrencies, for various charges. He was notably accused of having put in place means allowing American citizens to use his global platform. After many tribulations, Binance has finally reached an agreement with the American authorities. Agreement that will have consequences!
A fine and a departure
This is the end! CZ, the great figure of crypto exchanges, has resigned from his position as CEO of Binance. This was one of the requirements of American justice in the agreement reached with the now ex-boss of the platform. The other is the payment of a pharaonic fine of 4.3 billion dollars (around 3.94 billion euros).
In exchange for this admission of guilt on the charge of “money laundering”, the Department of Justice dropped all its charges. Binance was accused, in addition to money laundering, of not having obtained all the necessary licenses in the United States to offer trading services, and of having helped Americans use the global platform, instead of the Binance US interface. .
CZ at rest
As a result, CZ will no longer be able to run the company he founded in 2017. Former global head of regional markets Richard Teng will take over as his successor. CZ will remain a shareholder of Binance, and available for possible advice to management.
At the moment, the businessman has no plans for the future. He announced on his X account that he wanted to take some time off, and was not considering starting a new business again. He also ended his long goodbye message with his usual communication, intended to reassure users of the platform about the status of their deposits. They are still there, and in no danger. “Funds are SAFU!” »
Source : Le Figaro
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