The company also faces two civil lawsuits in the US, brought by the Commodities and Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC), alleging, among other things, commingling of customer assets, anti-money laundering violations, and artificially inflating trading volumes. Changpeng Zhao, also known as CZ, the founder and CEO of Binance, is stepping Binance to pay 4.3B in fines and CEO ‘CZ’ to step down and plead guilty to anti-money laundering charges. Binance co-founder and CEO Changpeng Zhao was a headline speaker at the Web Summit on 2 November. But the DOJ investigation into Binance was an open secret in crypto circles, and Binance insiders say that staff have been anxiously waiting for charges to drop, amid a “ general sense of doom.”īinance is by far the largest cryptocurrency exchange in the world by transaction volume, with around 40 percent of global market share, and it is a major part of the infrastructure underpinning the crypto business. Founder and CEO of Binance Changpeng Zhao, commonly known as 'CZ', attends the 'CZ meets Italy' at Palazzo Brancaccio on in Rome, Italy. In the past year, Zhao had taken to responding to negative headlines on X, formerly Twitter, by posting “4”-a symbol he adopted to dismiss allegations made against the company as baseless FUD (shorthand for fear, uncertainty, and doubt). I know Binance will continue to grow and excel with the deep bench it has,” Zhao said in a post on X announcing Teng’s appointment as CEO. WHAT IS BINANCE CEO NET WORTH Changpeng Zhao CZ is the founder and CEO of Binance the world largest cryptocurrency exchange by volume and user base. It is time for me to let it walk and run.
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