Binance CEO Changpeng Zhao steps down with response to the SEC following guilty plea
Binance faces a pivotal change as CEO Changpeng Zhao agrees to step down and the company prepares to pay $4.3 billion in fines, follow ing a settlement with the SEC over anti-money laundering violations. Changpeng Zhao’s decision to step down as CEO of Binance and plead guilty to violating U.S. anti-money-laundering requirements has sparked a complex interaction with U.S. regulatory bodies, particularly in the context of a substantial settlement agreement. The unfolding situation involves intricate negotiations and exchanges between Zhao, Binance and the U.S. Securities and Exchange Commission (SEC), according to sources close to the matter. The core of these discussions revolves around the specifics of the charges against Binance and its CEO, and the implications of the settlement for Binance’s future operations. Today, I stepped down as CEO of Binance. Admittedly, it was not easy to let go emotionally. But I know it is the right thing to do. I made mistakes, and I mu...