What’s shaking in the world’s biggest crypto exchange platform: Binance? Since 2017, when Binance was founded, the face of the enterprise was its founder Changpeng Zhao, also known by his nickname, “CZ”. And in November 2023, it was announced that CZ had stepped down from Binance as CEO. What’s up with that? This is said to be in the wake of a $4.3 billion settlement with various US agencies. This is said to include a $3.4 billion penalty to the Financial Crimes Enforcement Network and a $968 million to the Office of Foreign Assets Control. It’s said to be one of the biggest corporate penalties in US history. Why the settlement?
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