🚨 Major news for Binance! 🚨

The ousted CEO, Changpeng Zhao, and the exchange Binance face a staggering $2.7 billion penalty for money laundering charges imposed by a US court. The penalty includes a clawback of $1.35 billion for illegal transaction fees and a $1.35 billion fine. 😱

Even Zhao pays $150 million from his personal account to dodge legal troubles. 🤑⚖️ However, the financial hit isn't the only worry; Zhao might face up to 10 years in jail for alleged US regulation violations. 🛑🏛️

A travel ban is in place, fearing escape to his Dubai home. 🌍 Former SEC official John Reed Stark highlights the court's concerns about Zhao's flight risk. This legal battle, involving billions and potential imprisonment, marks a pivotal moment for Binance and its former leader, Zhao, whose future is on the line. ⚠️💰

#Binance #CryptoLegalBattle #ChangpengZhao #Crypto #CryptoNews🔒📰🚫