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In a shocking development to the international Bitcoin community, Binance founder and CEO Changpeng Zhao is stepping down from his role as part of a guilty plea on criminal and civil charges in the US.
Binance, the largest digital asset exchange in the world by volume, has seen its very future come into question as the result of a legal battle with the US Department of Justice (DoJ). Founder and CEO Changpeng Zhao, also known as CZ, pled guilty on September 21 to money laundering violations, and agreed to both resign from his post and pay a $50M fine, which may be reduced. Binance will also pay a whopping $4.3 billion fine, and this penalty seems fairly set in stone. This agreement comes at the end of a monthslong legal battle in wh
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