Binance Founder Pleads Guilty To Anti-Money Laundering Charge

USA – The founder of Binance, the world’s largest cryptocurrency exchange, pleaded guilty Tuesday to a felony charge that he failed to take steps to prevent money laundering as the company agreed to pay more than $4 billion following an investigation by the U.S. Government.

CEO Changpeng Zhao pleaded guilty to one count of failure to maintain an effective anti-money-laundering program in federal court in Seattle.

The charge was similar to practices uncovered after the collapse of the second largest cryptocurrency exchange, FTX, last year.

Zhao is expected to be sentenced on February 23.