Changpeng Zhao Resigns as Binance CEO
Changpeng Zhao has resigned from his position as Binance CEO. The US Justice Department (DOJ) is reportedly set to announce a settlement at a press conference today as a years-long investigation of the exchange has come to an end. Subsequently, Zhao’s resignation was in discussion before the announcement.
Bloomberg reports from earlier this week indicated the DOJ’s call for $4 billion from the exchange. Moreover, they also noted that criminal charges against Zhao were set to be a key part of the proposed resolution plan. Now, Zhao’s resignation preludes the settlement details set to arrive later today.
Also Read: US Department of Justice to Announce Binance Settlement Today
Binance CEO in Discussions to Step Down Amid an End to Criminal Investigation
For much of this year, crypto exchange Binance has faced increased scrutiny from the United States. Indeed, that culminated in a criminal investigation targeting the exchange and its CEO, Changpeng Zhao. Now, that process could be coming to an end, and it could result in major changes to the exchange.
Specifically, the Wall Street Journal reported that Changpeng Zhao has resigned from his position as Binance CEO. Indeed, the news arrives as US Attorney General Merrick Garland is scheduled to appear at a press conference today. The end of the exchange’s criminal investigation is expected to be a key part of the announcements made.
Also Read: Department of Justice to Announce Crypto Enforcement Actions Today
Earlier this week, it was reported that the DOJ was seeking $4 billion from Binance in a proposed settlement. However, they also sought criminal charges against its CEO, who has now become a central figure in the developments. Altogether, his fate should be unveiled at the time of the press conference.
The report notes that the settlement would be agreed upon by the Department of Justice, Binance, and the Commodities Futures Trading Commission (CFTC). Moreover, the US Securities and Exchange Commission (SEC) is not expected to be taking part.
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Changpeng Zhao Resigns as Binance CEO
Changpeng Zhao has resigned from his position as Binance CEO. The US Justice Department (DOJ) is reportedly set to announce a settlement at a press conference today as a years-long investigation of the exchange has come to an end. Subsequently, Zhao’s resignation was in discussion before the announcement.
Bloomberg reports from earlier this week indicated the DOJ’s call for $4 billion from the exchange. Moreover, they also noted that criminal charges against Zhao were set to be a key part of the proposed resolution plan. Now, Zhao’s resignation preludes the settlement details set to arrive later today.
Also Read: US Department of Justice to Announce Binance Settlement Today
Binance CEO in Discussions to Step Down Amid an End to Criminal Investigation
For much of this year, crypto exchange Binance has faced increased scrutiny from the United States. Indeed, that culminated in a criminal investigation targeting the exchange and its CEO, Changpeng Zhao. Now, that process could be coming to an end, and it could result in major changes to the exchange.
Specifically, the Wall Street Journal reported that Changpeng Zhao has resigned from his position as Binance CEO. Indeed, the news arrives as US Attorney General Merrick Garland is scheduled to appear at a press conference today. The end of the exchange’s criminal investigation is expected to be a key part of the announcements made.
Also Read: Department of Justice to Announce Crypto Enforcement Actions Today
Earlier this week, it was reported that the DOJ was seeking $4 billion from Binance in a proposed settlement. However, they also sought criminal charges against its CEO, who has now become a central figure in the developments. Altogether, his fate should be unveiled at the time of the press conference.
The report notes that the settlement would be agreed upon by the Department of Justice, Binance, and the Commodities Futures Trading Commission (CFTC). Moreover, the US Securities and Exchange Commission (SEC) is not expected to be taking part.
Read More
Explore Binance’s Latest Altcoin Lending Opportunities