Binance CEO Changpeng Zhao to Resign Following Admission of Guilt to Federal Charges, Agrees to Pay $4.3 Billion Fines

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CEO of Binance, Changpeng Zhao has agreed to Resign after pleading Guilt to Federal Charges and Agreeing to Pay $4.3 Billion Fines

Changpeng Zhao, also known as “CZ,” founder and CEO of Binance, is taking a voluntary step down from his role, concurrently entering a guilty plea in response to federal charges presented by the Department of Justice and other U.S. agencies. Scheduled for Tuesday afternoon, CZ is expected to formalize his plea in a Seattle federal court.

The chief executive officer of Binance, the world’s largest cryptocurrency exchange, is strategically resigning and admitting guilt to charges related to criminal U.S. anti-money-laundering requirements. This orchestrated move is designed to potentially secure the continuity of the company’s operations, as informed by sources with knowledge of the matter.

And this is what his resignation means to the crypto world.

Binance CEO CZ has agreed to resign from Binance.

According to Charles Awauzie, This is good news for #Crypto.

Several times during our $THC Dev meeting, we discussed the massive money laundering crimes happening on centralised exchanges and we all agreed to stay away from centralised exchanges and maintain integrity even if it will cost us holders.

A lot of people don’t know that we are listed on 2 European Centralised exchanges…. We know what happens behind the curtains. We spent tens of thousands of dollars to list and maintain the listing. It’s deeper than you think.

Whatever volume you see on CMC from CEX, always compare it with their Dex volume.

Crypto is getting SANITIZED…

If you have followed me for some months, you will remember that I mentioned that by next year, Crypto will be cleansed and it will start from centralised exchanges.

Here’s my Prediction – we are entering the last days of CRYPTO Over night Billionaires. Global Regulation is coming to Crypto and it’s a good news. High volatility which created overnight millionaires and caused major losses too will reduce. Crypto will almost become like forex – more predictable and decreased volatility.

Transparency is also returning to Crypto… Projects with transparent and honest teams will LEAD and not just hyped tokens with no real faces because the regulators will take control out of the current players who crown the biggest hypers.

I’m sorry CZ had to go. I’m grateful for his contribution to Crypto… But I knew he won’t last beyond this year.

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