financemagnates.com
Binance's Chief Executive Officer Changpeng Zhao has agreed to step down and pleaded guilty to breaching anti-money laundering laws in the US, according to the people familiar with the matter, who shared information with the Wall Street Journal.
This step followed a settlement between Zhao and the US Department of Justice (DOJ) worth $4.3 billion. The DOJ has been conducting a prolonged investigation into Binance's operations. The allegations include permitting individuals from sanctioned countries to conduct transactions on its platform and other regulatory concerns.