Bloomberg: Zhao Changpeng is not allowed to continue holding any positions, but will retain majority ownership

2023-11-22 01:30:10

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ChainCatcher news, citing sources from Bloomberg, reports that regulators will impose a $4.3 billion fine on the world's largest cryptocurrency exchange, Binance. Founder Changpeng Zhao has agreed to resign and plead guilty, and will not be allowed to hold an executive position at Binance, although he will retain a majority stake in the company.

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Binance's $4.3 billion settlement case continues to be tracked.

The boots have finally dropped! Binance will pay up to $4.3 billion in fines to the U.S. Treasury, and Changpeng Zhao has announced his resignation as CEO of Binance... What will be the subsequent impact of this hefty settlement on Binance and the cryptocurrency industry? Will it open a new chapter for compliance regulation in the industry?

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