Binance CEO Changpeng Zhao (CZ) has resigned after the cryptocurrency exchange was charged with money laundering. Zhao, who warned last year about the difficulty of preventing illegal activity in the industry, pleaded guilty to breaking US anti-money laundering legislation. He will pay a $50m fine and faces possible imprisonment. Binance has agreed to pay a $4.3bn settlement. Zhao stated that Binance had not misappropriated any user funds and expressed remorse for his mistakes.
He plans to take a break and does not see himself as a startup CEO again
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