Binance CEO Resigned

Changpeng Zhao, Binance CEO, the largest crypto exchange in the world, resigned from its position and pleaded guilty for violating anti-money laundering legislation in the USA.

 

The decision was made after a settlement between Binance and the Department of Justice, worth around $4 billion, and was covering the entire spectrum of charges that was heard during all the months before.

 

The announcement is considered a heavy blow for the crypto sector as the investors’ trust seem to break for a little.

 

On the other hand, a war circle seems to close now between the crypto exchanges and the US SEC, with the defeat of the firsts.

 

Maybe in the future, we will see large crypto exchanges like Coinbase to face similar issues and forced to make similar moves to comply with the overall good for the crypto sector.

 

Until then, Binance remains on the ropes…….

 

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