Binance is the largest cryptocurrency exchange in the world, and has been under investigation by US authorities for years over allegations of offshore money laundering. Now it has announced that CEO and founder Changpeng Zao is to step down from his role and plead guilty to violating US money-laundering regulations (via BBC), alongside Binance itself pleading guilty and reaching a settlement with regulators that will come to an eye-watering $4.3 billion.
"Binance enabled nearly $900 million in transactions between US and Iranian users, and facilitated millions of dollars in transactions between US users and users in Syria, and in the Russian occupied Ukrainian regions of Crimea, Donetsk and Luhansk," said a spokesperson for the US Justice Department.
