🚨🚨Binance founder and former CEO Changpeng Zhao (CZ) has been banned for life from managing the cryptocurrency exchange.🚨

Initially, reports suggested that Zhao would be unable to return to Binance for a period of three years. However, Axios later revealed that the ban is permanent, preventing Zhao from ever resuming a leadership role at the platform

CZ Faces Lifetime Suspension from Binance

Zhao’s legal troubles began when US authorities charged him with multiple violations tied to Binance’s operations. The allegations included offering unregistered securities, market manipulation, and deficiencies in the platform’s anti-money laundering (AML) protocols.

“I’m sorry. I believe the first step in taking responsibility is to fully recognize the mistakes. Here I failed to implement an adequate anti-money laundering program. I realize now the seriousness of that mistake,” Zhao said in court.

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