Binance accused of money laundering?

Last month, the bad news finally came out, Binance did

must settle with the Ministry of Justice for violating anti-money laundering laws. This comes from evidence that Binance intentionally allowed users to trade cryptocurrencies even without verification. It also allows users in countries like Iran to trade cryptocurrencies, in violation of US sanctions, for potentially more than $900 million. Another big accusation is that Binance was mixed

and customer funds between all of its units, something FTX is having trouble with.

The fine for Binance is quite high, $4.3 billion, and users withdrew about $1 billion from the exchange on the first day of the news, however, the activities appear to be continuing. Fun fact, Binance's $4.3 billion is the 7th highest financial fine ever paid (See image)

CZ needs to personally pay a $50 million fine and may spend some time in prison (up to 18 months). Worst of all, he was forced to resign as CEO. Richard Teng (regional market head) will replace CZ's position

The SEC's attack on exchanges remains intense.

Coinbase CEO Brian Armstrong could also be targeted at any time. Among the CEOs of major exchanges

Justin Sun is still in a fairly intact state.