Re: Binance reaches deal to pay $4.3B settlement to American regulators
It's official CZ pleaded guilty to a felony charge of violating money laundering laws. CZ's on bail at $175M. He's replaced by Richard Teng after he resigned as CEO of Binance. The exchange's got to pay $4.3B to settle the case.
Did we consider Sam Bankman Fried & Changpeng Zhao would've been convicted criminals in 2023? They're going to be sentenced next year.
Did we consider Sam Bankman Fried & Changpeng Zhao would've been convicted criminals in 2023? They're going to be sentenced next year.
Sam Bankman Fried of FTX and Changpeng Zhao of Binance cases are of different ones. Though they are all criminal cases but Sam Bankrman project collapsed while Cz project is still active. Therefore if they will have punishment they will not have it in an equal way. Binance former CEO was fined to pay $4.3B for the crime committed. This money laundering issues that are coming up rampantly this days in the cryptocurrency ecosystem is the new method the government is using to shot down some projects and companies. Though it is good because it will make the cryptocurrency ecosystem free from money laundering.
We just thank God that Binance did not shot down the company because if they did, people would have lost money more than FTX.