Binance and CZ’s plea deal with US Government revealed in court filing
CZ will be required to pay a fine of $50 million as part of the […]...
- CZ, the founder of Binance, has reached a plea deal with the US Government.
- CZ will plead guilty to violating the Bank Secrecy Act and will pay a fine of $50 million to the CFTC.
- Binance will plead guilty to various charges, including conducting unlicensed money-transmitting business and violating the Bank Secrecy Act.
- Binance will accept Zhao's resignation as CEO and pay a fine of over $4 billion.
The article describes the plea deal between CZ, Binance, and the US Government, which involves CZ pleading guilty and paying a fine, Binance accepting guilt and paying a significant fine, and Zhao resigning as CEO. The overall sentiment of the article is negative due to the legal issues and financial penalties faced by CZ and Binance.