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Binance crypto exchange founder to step down amid US illicit finance probe

Binance Changpeng Zhao United States Crypto Merrick Garland DOJ

Binance CEO Changpeng Zhao has agreed to step down and plead guilty to violating anti-money laundering laws, court documents show [File: Darrin Zammit Lupi/Reuters]

Changpeng Zhao, founder of Binance, the world’s largest cryptocurrency exchange, has stepped down as CEO and pleaded guilty to violating anti-money laundering laws.

The deal with the United States Department of Justice (DoJ) is part of a larger settlement that involves several federal agencies and will include fees of more than $4bn, the DoJ said on Tuesday.

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