Binance chief Changpeng Zhao pleads guilty to money laundering charges

The Binance chief executive, Changpeng Zhao, has resigned after pleading guilty to money laundering violations.

"I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for myself", he said in a post on X.

The Justice Department said it was requiring Binance, the largest crypto-exchange in the world, to pay $4.3bn (£3.4bn) in penalties and forfeitures.

It said Binance had helped users bypass sanctions across the world. read more