Binance Controversy: Pays $4.3 Billion Fine, CZ Steps Down as CEO

CZ agrees to step down as CEO and pay a $50 million fine
Richard Teng takes over as CEO, CZ may engage in passive investments in the future
Binance reaches a settlement with US regulatory agencies, the agreement does not involve embezzlement or market manipulation
CZ will be allowed to reside in the UAE while awaiting sentencing, the expected sentence is not to exceed 18 months, with a bail set at $175 million, and CZ's sentencing hearing is scheduled for February next year
New Binance CEO: Will work with partners to drive Web3 growth and adoption
He Yi: Binance did not touch user funds or manipulate the market, it is now a compliant Binance

The US Treasury Department will retain access to Binance's books, records, and systems for five years

Binance agrees to criminal charges, paying a $4.3 billion fine (FinCEN and OFAC settlement amounts are $3.4 billion and $0.968 billion, respectively)
(Three charges: violating anti-money laundering regulations, conspiring to conduct unlicensed money transfer business, violating US sanctions regulations)
Binance is required to appoint an independent compliance monitor and report its compliance efforts to the US government
Zhao Changpeng is prohibited from "participating in any current or future operations or management of Binance"

Coinbase CEO: Binance incident will open a new chapter for the industry
Shenyu: Settlement between the US Department of Justice and Binance paves the way for ETFs

To be continued……

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。

Selected Articles by AiCoin信息君