As a result of a long-term investigation conducted by the prosecutor’s office, it was shown that Binance, the world’s largest exchange, violated American anti-laundering regulations and evaded sanctions. Moreover, the company did not report over 100,000 suspicious transactions with organizations that the US considers terrorist groups, as well as transactions with websites that sell child pornography – reports.
Binance is in trouble. The largest cryptocurrency exchange will pay a huge fine
– Binance has made it easier for criminals to move stolen funds and illicit proceeds on its exchanges. Binance didn’t just fail to comply with federal law. It pretended to comply with it, US Attorney General Merrick Garland emphasized on Tuesday during a press conference.
Changpeng Zhao, CEO of Binance, pleaded guilty to the charges and resigned from his position. As part of the settlement, the company will pay a fine of USD 4.3 billion. This is one of the largest penalties for corporations in US history. At the same time, Changpeng Zhao agreed to pay $50 million. On the platform, X emphasized that Binance has not been accused of misappropriating user funds or market manipulation.
Meanwhile, Richard Teng is the new CEO of Binance. On the X platform, he assured, among other things, that users of the cryptocurrency exchange “can be confident in the financial strength, security and protection of the company.”
Sam Bankman-Fried guilty. The “king of cryptocurrencies” faces severe punishment
. He was accused of fraud and money laundering. Prosecutor Damian Williams said that Bankman-Fried, the “king of cryptocurrencies”, had committed “one of the largest financial frauds in history”.
Source: Gazeta
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