Judge Accepts CZ’s Defense Agreement!
An American district judge accepted the criminal complaint regarding allegations against former Binance CEO CZ related to anti-money laundering violations.
Changpeng Zhao, known as CZ, admitted guilt last month to charges of money laundering prevention and sanctions violations following years of investigations by federal regulators.
In addition, Binance agreed to pay $4.3 billion in one of the largest corporate settlements in history. Furthermore, Zhao agreed to pay a $50 million fine and resigned from the CEO position.
Furthermore, CZ effectively eliminated his influence over the management of Binance.US by resigning from the board of directors last week, following his resignation from Binance. This move transformed the relationship with the U.S. arm of the exchange into a ‘purely economic’ one.
Since stepping down as the CEO of Binance and admitting guilt, CZ has been active on the social media platform X. Last week, he had a lunch meeting with the new Binance CEO, Richard Teng, where the two discussed topics such as taking risks, the overall situation of the company, and more.
n a previous statement, CZ said,
’10 years ago today, I quit my job, sold my house, and went all-in on #bitcoin.’
He continued,
‘No, I’m not saying you should do the same. Many people asked, how could you take such a risk? I knew I could easily find another job… Everyone’s risk profile is different. Learn risk management.’
