Is Binance Big Enough to Survive a $4.3B Fine and Founder CZ’s Ousting?
(Photos from Smorshedi/Wikimedia Commons and CoinDesk/Flickr, modified by CoinDesk)
Binary trading platforms with better performance and payouts
CZ
(Photos from Smorshedi/Wikimedia Commons and CoinDesk/Flickr, modified by CoinDesk)
Binance is paying one of the largest fines in corporate history to the U.S. Department of Justice, while its founder and CEO, Changpeng “CZ” Zhao, stepped down from his role running the platform as part of a settlement with multiple federal agencies. Meanwhile, Kraken is facing a lawsuit from the U.S. Securities and Exchange Commission that echoes the SEC’s previous wave of suits.
Binance founder and former CEO Changpeng “CZ” Zhao has been released from custody on a $175 million personal recognizance bond.
The former Binance CEO will remain a shareholder and a consultant for the company.
Richard Teng (Binance)
Changpeng Zhao’s wealth dropped to $17.2 billion from a previous estimate of $29.1 billion.
Paysafe, the crypto exchange’s former service provider for euro transfers ended support last month.