Binance CEO Changpeng Zhao agrees to resign and pleads guilty

The chief executive of Binance, the world’s largest cryptocurrency exchange, plans to step down and plead guilty to violating US criminal anti-money laundering requirements, in a deal that could preserve the company’s ability to continue operations, according to people familiar with the matter. .

Zhao Changpeng is scheduled to appear in Seattle federal court Tuesday afternoon and enter pleas, the sources said. Binance, which Zhao owns, will also plead guilty to a criminal charge and agree to pay fines totaling $4.3 billion, which include money intended to settle civil allegations made by regulators, the sources said.