Coinspeaker
CZ Binance Hires Former US Prosecutor Matthew Diggs
Changpeng Zhao (CZ), the founder and former CEO of the world’s largest cryptocurrency exchange Binance has hired Matthew Diggs, an ex-prosecutor in the United States with years of criminal and regulatory experience, to defend his interests in the ongoing settlement saga with the government.
Recall that Binance inked a $4.3 billion settlement deal with the US law enforcement agencies, including the country’s Commodities Futures Trading Commission (CFTC) and the Department of Justice (DOJ), which resulted in CZ’s resignation as the CEO of the exchange last week.
The former Binance boss pleaded guilty to money laundering violations and is facing up to 18 months in prison as part of the agreement with the US government.
However, despite being released on a $175 million personal recognizable bond, the DOJ insisted that CZ was a flight risk and has been denied returning to the United Arab Emirates pending a court hearing
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