Binance and CZ’s plea deal with US Government revealed in court filing


21 Nov 2023 7:48 PM

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.

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You May Ask

What charges is CZ pleading guilty to?How much is the fine CZ has to pay, and where will the money go?What charges is Binance pleading guilty to?What are the consequences for Binance as part of the plea deal?How much is the fine imposed on Binance, and when do they have to pay it?

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