Binance CEO Changpeng Zhao Agrees Step Down, Plea Guilty

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The chief executive of Binance, the world’s largest cryptocurrency exchange, plans to resign and plead guilty to violating US criminal anti-money laundering requirements, in a deal that the company’s ability to continue operating, according to people familiar with the matter. .

Changpeng Zhao is scheduled to appear in Seattle federal court Tuesday afternoon and enter a plea, according to court records unsealed Tuesday. Prosecutors also released a document charging Binance, which Zhao owns, with anti-money laundering and sanctions crimes. Binance will also plead guilty and agree to pay a $4.3 billion fine, which includes amounts to settle civil charges brought by regulators, the people said.

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