Binance has agreed to pay $4.3 billion after being accused by US authorities of violating sanctions laws and failing to maintain proper AML regulations
Amidst an ongoing settlement process between the US Department of Justice (DoJ) and Binance, CEO Changpeng Zhao (CZ) has resigned.
CZ’s resignation comes as a shock to many, given his instrumental role in establishing Binance as the world’s largest crypto exchange. In a statement on social media platform X, he acknowledged mistakes, stating, “I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for myself.”