A U.S. district judge accepted former Binance CEO Changpeng Zhao’s guilty plea to charges related to anti-money laundering violations.
Judge Richard Jones accepted Zhao’s guilty plea Wednesday, according to a court filing in the U.S. District Court for the Western District of Washington in Seattle.
Zhao, also known as CZ, pleaded guilty last month to anti-money laundering and sanctions violations following a years-long investigation by federal regulators. Binance agreed to pay $4.3 billion in one of the largest corporate settlements in history. Zhao agreed to pay a $50 million fine and stepped down from his position as CEO.
step down
Zhao too cascade Last week, he stepped down as chairman of the Binance.US board of directors, effectively removing his influence in Binance.US’ governance and making his interest in the exchange’s US arm “purely economic.”
Zhao has been active at X since stepping down as Binance CEO and pleading guilty. Over the past week, he’s posted about lunch, reposted new Binance CEO Richard Teng, and talked about risk-taking.
“10 years ago today, I quit my job, sold my house and #Bitcoin” Zhao posted. “No, I’m not saying you should do the same. Many people asked how one could take such a risk. Me, I knew I could easily get a job. Everyone’s risk profile is different. Learn to manage risk.”
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
About the author
Sarah is a reporter for The Block covering policy, regulation and legal events. Sarah was previously a reporter writing about securities regulation at CQ Legal, where she first began her reporting on cryptocurrencies. She Sarah has also written for The Bond Buyer and American Banker, among other financial publications. She graduated from the University of Missouri with a degree in Print and Digital Journalism. Sarah lives in Washington, DC and she is an avid coffee lover. You can follow her on Twitter @ForTheWynn.