Earthquake in the cryptocurrency industry. Changpeng ZhaoThe founder and CEO of Binance, the world’s largest digital asset exchange, will make his announcement. resignation This Tuesday and will plead guilty to violating the requirements bleaching ‘Money in the United States, according to The Wall Street Journal.’
The newspaper predicts that the company, which was established in China but has its tax center in the Seychelles and Cayman Islands, will also agree to pay up to 4.3 billion dollars. fines in an agreement that “may preserve the company’s ability to continue operations.”
Zhao, also known as ‘CZ’ in the industry, will appear in federal court in Seattle this Tuesday. United States of AmericaAccepting the charges presented by the Department of Justice and payment of these economic sanctions. More detailed information about the agreement will be given later.
A blow to the ‘crypto’ industry
This decision represents numerous blows to the credibility of the ‘crypto’ industry. On the same Monday, the U.S. Securities and Exchange Commission krakenIt is the third largest cryptocurrency trading platform and allegedly operates as an “unregistered exchange, broker, agent and clearing house.”
On November 3, a criminal court announced Sam Bankman-Friedfounder of ill-fated cryptocurrency giant FTXguilty of seven crimes, including fake to investors and money laundering. The platform, which was once worth $32 billion, announced itself recently. bankruptcy Its collapse was accelerated when users began withdrawing their funds due to lack of trust in the project, which led to a lack of liquidity, suffocating the project. One of them was his main rival in the industry, Changpeng Zhao.