Binance CEO CZ To Resign, Admit Guilt In Anti-Money Laundering Probe: Report
Portfolio Pulse from Murtuza Merchant
Binance CEO Changpeng Zhao is reportedly resigning and admitting guilt to U.S. anti-money laundering charges, with Binance agreeing to a $4.3 billion penalty. This settlement could secure the company's future operations. Zhao will keep his majority stake but step down from any executive role. The DOJ is expected to announce details in a briefing.
November 21, 2023 | 5:44 pm
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Binance CEO Changpeng Zhao's resignation and admission of guilt, along with Binance's $4.3 billion penalty, could impact investor confidence and BNB's market perception.
The CEO's resignation and the large financial penalty may lead to uncertainty and a lack of confidence in Binance, potentially causing a short-term negative impact on BNB's value.
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