Changpeng Zhao pleaded guilty and left Binance 👀

CZ says he made a mistake and has to go, Richard Teng will be the new director.

According to media reports, Zhao will pay a fine of 50 million dollars and will be banned from managing Binance for 3 years. The exchange will pay $1.81 billion in fines over 15 months and forfeit $2.51 billion as part of a settlement with the US Department of Justice.

Total:

▪️ CZ got a bit scared and took a 3 year leave.

▪️ Binance is generally doing well, but it should be limited to shady businesses.

▪️ BNB investors have yet to figure out whether it's all good or bad for them.

▪️ It is absolutely unknown from whom and why Binance will confiscate $2.51 billion in favor of the US 😬 #BinanceNews