Binance and CZ plead guilty and reach settlement with DOJ and CFTC

Binance and its CEO CZ pleaded guilty to criminal charges of anti-money laundering and violating U.S. sanctions, including allowing transactions with terrorist groups such as Hamas, as part of a deal with the U.S. Department of Justice aimed at keeping the company operating part of the comprehensive agreement. Binance agreed to plead guilty and pay a fine of more than $4 billion. Changpeng Zhao agreed to resign and pay a $50 million fine as part of a settlement, and he pleaded guilty in a Seattle court on Tuesday. The agreement includes the participation of the U.S. Treasury Department and the Commodity Futures Trading Commission and ends a years-long investigation into the cryptocurrency exchange. The negotiated settlement will resolve all allegations of criminal misconduct.