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Binance founder Changpeng Zhao (CZ) will step down from his CEO duties and plead guilty to criminal charges, paying a $50 million fine, according to court documents made public Tuesday. The Department of Justice is expected to announce a $4 billion settlement with Binance this afternoon, putting an end to an…
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The founders of cryptocurrency exchanges face a mountain of regulatory challenges and billions in personal losses.
FTX Trading is examining restarting the crypto exchange with three bidders, according to a Bloomberg report Tuesday.
Binance is once again fighting off regulators, claiming the Commodity Futures Trading Commission’s (CFTC) lawsuit is an overreach of U.S. law. The largest cryptocurrency exchange in the world says the agency is trying to regulate foreign individuals and corporations operating outside the US.
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