thenewscrypto.com
According to a WSJ article, Binance CEO Changpeng Zhao (CZ) has decided to resign ahead of the DOJ’s announcement that it had settled with the cryptocurrency exchange for $4.3 billion.
The WSJ reports that CZ plans to enter guilty pleas on many offenses brought by the Department of Justice. The publication said that on November 21, he would be present in a Seattle federal court to make a plea. He is expected to enter a guilty plea on “a criminal charge” pertaining to the violation of Anti-Money Laundering regulations as per WSJ.
As part of the plea agreement, CZ would be able to keep his majority share in Binance. Moreover, he probably won’t go to prison, but he can’t be an executive there either.