The founder and CEO of the Binance cryptocurrency exchange, Changpeng Zhao, announced his resignation from his post, his place will be taken by the company’s former head of regional markets, Richard Teng. November 21 about the resignation of the CEO of the crypto exchange reported newspaper The Wall Street Journal.
“Today I resigned as CEO of Binance. I made mistakes and I must take responsibility,” Changpeng Zhao wrote on social network X. He also announced his desire to take a break for the first time in 6.5 years.
As WSJ wrote, the resignation is due to the cryptocurrency exchange’s violation of US money laundering laws. As the publication reported, the guilty plea will allow Changpeng Zhao to retain a controlling stake in Binance, and the exchange itself to continue operating in the United States, paying fines in the amount of $4.3 billion.
Binance management writes: New York Times citing data from the US Department of Justice, pleaded guilty to money laundering and violating the law in order to “make a profit from the market without exercising control” on the part of the authorities. Management agreed to pay the specified fine.
How reported Bloomberg, the deal does not involve stopping the trial, but postponing it. According to the agency, the Ministry of Justice intends to file an indictment against the company, but will not seek prosecution as long as the company complies with the prescribed conditions.