The CEO of Binance, Changpeng Zhao, has pleaded guilty to criminal charges, and has stepped down from the world's largest cryptocurrency exchange. Binance will pay more than $4 billion to the US government and admit wrongdoing, after it was accused of operating as an unregistered securities exchange among other violations of US money-laundering laws.
Zhao also faced allegations of diverting customer funds, similar to the charges faced by Sam Bankman-Fried, the founder of another crypto exchange FTX, who was convicted of fraud earlier this month.
