The government of the United States has been successful in the prosecution of Binance CEO, Changpeng Zhao.
He has been removed although he was known as the world’s largest crypto exchange boss.
He was a key target in the government’s efforts to clean up this market well known for its Wild West reputation.
The Binance former boss agreed to plead guilty to the criminal charge of failure to protect against money laundry.
He’s expected to pay $50 million in penalties.
He will also step down from being the executive. Also, he will be sentenced in the month of February 2024.
He’s not alone. Some of the biggest names in crypto are also facing time behind bars.
Look at the the picture and you’ll understand.