US officials announce $4.3B settlement with Binance, plea deal with CZ By Cointelegraph


Officials with the United States Department of Justice announced that Binance CEO Changpeng “CZ” Zhao will plead guilty to one felony charge as part of a settlement over criminal and civil cases with the exchange.

“In a Nov. 21 press conference, Attorney General Merrick Garland announced that CZ entered his plea in person in U.S. federal court despite residing outside the country. He added that a $4.3-billion settlement with Binance and CZ would cover “civil regulatory enforcement actions” by government departments including the U.S. Treasury and Commodity Futures Trading Commission (CFTC).

U.S. Treasury Secretary Janet Yellen addressing reporters. Source: DOJ