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Binance has named its head of regional markets exterior of the U.S., Richard Teng, as its new CEO. The change comes as founder and former CEO Changpeng “CZ” Zhao has resigned and plead responsible to fees levied towards him by the U.S. Division of Justice.
Immediately, I stepped down as CEO of Binance. Admittedly, it was not simple to let go emotionally. However I do know it’s the proper factor to do. I made errors, and I have to take duty. That is finest for our group, for Binance, and for myself.
Binance is not a child. It’s…
— CZ Binance (@cz_binance) November 21, 2023
As Cointelegraph reported earlier, CZ and Binance have agreed to a plea deal with the DOJ over alleged anti-money laundering violations. The ensuing settlement will price the corporate $4.3 billion {dollars} and, reportedly, bars CZ from serving as an govt at any cryptocurrency corporations. He received’t have to provide u his shares, nonetheless, and can apparently serve no jail time.
This can be a growing story, and additional info can be added because it turns into obtainable.
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