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.
Great, they finally got the way out with the attorneys by paying them money under the table. It was just about the value that is under consideration for which we were waiting, that's 4.3B. I am not sure how they came to this conclusion but something must have triggered in the minds of CZ. They must have plans otherwise they wouldn't go this far to pay such a high amount to bail out of the country where they had halted their business.
Overseas they are anyway doing great business. However, they might be seeing another future within the USA that can trigger even bigger business soon. The best way to tackle this is to get bail, file for guilty operations, and restart the business USA-wide. This can again bring them the huge number of investors onboard with newer investments. Plus, we are closing towards the Halving, I am seeing some patterns here with the timeline they are going.