Binance CEO Changpeng Zhao agrees to resign and pleads guilty

The chief executive of Binance, the world’s largest cryptocurrency exchange, plans to step down and plead guilty to violating US criminal anti-money laundering requirements, in a deal that could preserve the company’s ability to continue operations, according to people familiar with the matter. .

Zhao Changpeng is scheduled to appear in Seattle federal court Tuesday afternoon and plead his case, according to court records released Tuesday. Prosecutors also unsealed a document accusing Binance, which Zhao owns, of anti-money laundering and sanctions crimes. Binance will also plead guilty and agree to pay fines totaling $4.3 billion, which includes money intended to settle civil allegations made by regulators, the sources said.