Binance's Changpeng Zhao pleads guilty to money laundering, comments on resignation
Now-former Binance CEO Changpeng Zhao has pleaded guilty to money laundering charges, according to reports from The New York Times on Nov. 21....
- Former Binance CEO Changpeng Zhao has pleaded guilty to money laundering charges and agreed to pay a $50 million fine.
- Zhao has stepped down as CEO of Binance and expressed his resignation in a post, taking responsibility for his mistakes.
- He plans to become a private, passive investor in blockchain but will remain involved with Binance as a shareholder and available for consultation.
- Richard Teng, Binance's former Global Head of Regional Markets, will become the new CEO.
- The Department of Justice (DOJ) resolution with Binance does not accuse the company of misappropriating user funds or market manipulation.
The article portrays a negative sentiment due to Changpeng Zhao's guilty plea and resignation as CEO, along with the money laundering charges and fine. However, it also highlights his willingness to take responsibility and his future plans as an investor in blockchain.