World's Largest Bitcoin, Crypto Exchange Binance Founder CZ To Resign As CEO, Plead Guilty

The CEO of Binance, Changpeng Zhao, commonly known as CZ, is set to step down from his role from the company as he plead guilty to money laundering violations, according to the Wall Street Journal. Binance, as a company, will also plead guilty and pay $4.3 billion fine.

This news arrives in the wake of the conclusion of a criminal investigation around the cryptocurrency exchange. The investigation centered on alleged regulatory breaches and illicit activities within Binance. And now, the finale of this probe seems to have prompted a leadership transition.

The investigation’s official outcome is happening today, as earlier this morning Bloomberg reported that the U.S. Department of Justice…

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