Binance founder and CEO Changpeng Zhao will step down and plead guilty to breaking U.S. money laundering laws.
Binance’s coin value fell on Tuesday after reports that Changpeng Zhao, founder of the world’s largest crypto exchange, will relinquish his role atop the company and plead guilty to violating U.S. money laundering laws.
The move is part of a $4 billion settlement agreement with the U.S. Justice Department, along with the Commodity Futures Trading Commission (CFTC) and the Treasury Department, Reuters reported on Tuesday, citing sources familiar with the matter.
The cryptocurrency’s coin value in relation to the U.
