Binance's CEO also resigns: He admitted to money laundering

According to court documents, Binance chief Changpeng Zhao will plead guilty to criminal charges and step down as the company's CEO as part of a $4.3 billion settlement with the Department of Justice.
Zhao and the others are accused of violating the Bank Secrecy Act and willfully violating US economic sanctions by failing to implement an effective anti-money laundering program.
Binance agreed to repay $2.5 billion to the government, as well as pay a $1.8 billion fine.
The Securities and Exchange Commission targeted the company in June with a wide-ranging lawsuit alleging that Binance traded illegal securities and mismanaged customer funds. In the 13 charges brought against Binance by the SEC, the agency accused Binance of commingling billions of dollars of customer money with Binance's own funds, similar to allegations leveled against now-bankrupt cryptocurrency exchange FTX. Founded in 2017 by a Chinese-born entrepreneur, Binance has gone from a relatively obscure name to a major force in cryptocurrency in a matter of weeks. To this day, Binance remains the world's largest cryptocurrency exchange globally, processing billions of dollars in trading volume annually.