The CEO of the world's largest crypto exchange, Binance, Changpeng Zhao is preparing to resign and plead guilty to money laundering. This was reported by The Wall Street Journal, citing sources, and the information was also confirmed by Forbes.
According to sources, Zhao should soon appear in court and, as part of a plea deal, will admit guilt, and the site will also pay a fine of $4.3 billion. Sources claim that Zhao agreed to the deal so that the exchange could continue to operate.
Previously, the US Securities and Exchange Commission filed a lawsuit against Binance and Zhao, accusing the management of the site of bypassing control mechanisms and misleading investors.