“This is one of the largest penalties we have ever obtained from a corporate defendant,” Attorney General Merrick Garland said at a press conference announcing the deal. Zhao, whose net worth is valued at $10.2 billion, according to Forbes, would retain his majority ownersh...
Billionaire Changpeng Zhao and leading cryptocurrency exchange Binance pleaded guilty on Tuesday to federal charges in a watershed moment designed to bring order to the often-lawless crypto industry.
A plea deal filed in November 2023 asked prosecutors to consider that Changpeng Zhao was prohibited from “any present or future involvement in operating or managing” Binance. 8066 Overview Behind bars: 6 crypto execs who did time and one who got away… ...
according to Zhao's announcement on Twitter.18After a day of due diligence, the deal was called off, and Binance did not end up purchasing FTX.19Zhao reportedly called former FTX CEO Sam Bankman-Fried "one of the greatest fraudsters in history" on Twitter.20FTX later filed...
Zhao's public aim to be a part of all that has been dashed by Tuesday's guilty plea and settlement. "By failing to comply with U.S. law, Binance made it easy for criminals to move their stolen funds and illicit proceeds on its exchanges," U.S. Attorney Gene...