{"id":87340,"date":"2023-11-21T20:11:43","date_gmt":"2023-11-21T18:11:43","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=87340"},"modified":"2025-09-13T11:10:54","modified_gmt":"2025-09-13T08:10:54","slug":"media-changpeng-zhao-to-step-down-as-binance-to-pay-4-3-billion-in-penalties","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/media-changpeng-zhao-to-step-down-as-binance-to-pay-4-3-billion-in-penalties\/","title":{"rendered":"Media: Changpeng Zhao to step down as Binance to pay $4.3 billion in penalties"},"content":{"rendered":"<p>The U.S. Department of Justice plans to announce separate but related enforcement actions in connection with the Binance case.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">There it is. The big announcement is the Binance settlement of ~$4 Billion. Courtesy of <a href=\"https:\/\/twitter.com\/allyversprille?ref_src=twsrc%5Etfw\">@allyversprille<\/a> &#038; team: <a href=\"https:\/\/t.co\/UcSNu2zlqZ\">https:\/\/t.co\/UcSNu2zlqZ<\/a> <a href=\"https:\/\/t.co\/YR3wcPIQPw\">pic.twitter.com\/YR3wcPIQPw<\/a><\/p>\n<p>\u2014 James Seyffart (@JSeyff) <a href=\"https:\/\/twitter.com\/JSeyff\/status\/1726991869341782390?ref_src=twsrc%5Etfw\">November 21, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to Bloomberg, the press conference is scheduled for 3 p.m. ET (22:00 Kyiv time, 23:00 Moscow time).<\/p>\n<p>Forbes, citing its own sources <a href=\"https:\/\/www.forbes.com\/sites\/davidjeans\/2023\/11\/21\/binance-ceo-cz-in-discussions-to-step-down-as-criminal-investigation-ends\/?sh=8cc91124acac\">\u0441\u043e\u043e\u0431\u0449\u0430\u0435\u0442<\/a>, that Binance chief Changpeng Zhao (CZ) may step down as chief executive of the exchange.<\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">21 November 2023 | 19:28<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>The WSJ <a href=\"https:\/\/www.wsj.com\/finance\/currencies\/binance-ceo-changpeng-zhao-step-down-plead-guilty-01f72a40?mod=followamazon\" title=\"\u0441\u043e\u043e\u0431\u0449\u0438\u043b\u0430\">\u0441\u043e\u043e\u0431\u0449\u0438\u043b\u0430<\/a>, that CZ agreed to step down, admitting guilt in violations alleged by U.S. authorities. Meanwhile, the exchange agreed to pay penalties totaling $4.3 billion.<\/p>\n<p>The deal reportedly envisages Binance continuing to operate, with Zhao retaining a controlling stake.<\/p>\n<\/div>\n<p>In the wake of the news, Bitcoin and the BNB token rebounded, returning to pre-event price levels.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"432\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD-10-1024x432.png\" alt=\"BTCUSD-10\" class=\"wp-image-220548\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD-10-1024x432.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD-10-300x126.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD-10-768x324.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD-10.png 1046w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">15-minute BTC\/USDT chart. Data: <a href=\"https:\/\/www.tradingview.com\/x\/GmKQEMxe\" title=\"TradingView\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>On June 5, <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/sec-files-suit-against-binance-and-changpeng-zhao\">filed suit<\/a> against Binance and Zhao, charging 13 counts, including the sale of unregistered securities. On June 6, the regulator <a href=\"https:\/\/u1f987.com\/en\/news\/sec-seeks-to-freeze-assets-held-by-binance-us\">moved for an asset freeze<\/a> of the exchange&#8217;s U.S. unit.<\/p>\n<p>On June 9, users <a href=\"https:\/\/u1f987.com\/en\/news\/binance-us-to-suspend-usd-deposits\">lost the ability to deposit dollars<\/a>, prompting selling by those seeking to withdraw funds in cash. In this context, on the platform <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-trades-at-a-discount-on-binance-us\">a discount<\/a> formed in BTC\/USD quotes\u2014the gauge reached about $2,200 (7.3%).<\/p>\n<p>On June 17, the SEC and Binance <a href=\"https:\/\/u1f987.com\/en\/news\/sec-and-binance-strike-deal-over-customer-assets-in-the-united-states\">reached an agreement<\/a> regarding customer funds in the United States. The exchange <a href=\"https:\/\/u1f987.com\/en\/news\/binance-us-unfreezes-withdrawals-for-the-near-future\">resumed<\/a> withdrawals, but warned that the situation could change.<\/p>\n<p>Earlier reports indicated that <a href=\"https:\/\/u1f987.com\/en\/news\/us-doj-seeks-4-billion-from-binance-to-end-investigations\">the U.S. Department of Justice sought $4 billion from Binance<\/a> as part of a deal that would end the ongoing criminal investigation.<\/p>\n<p>According to Bloomberg sources, talks between the parties contemplate the possibility that Changpeng Zhao could face charges of money laundering, financial fraud, and sanctions violations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Department of Justice plans to announce separate but related enforcement actions in the Binance case.<\/p>\n","protected":false},"author":1,"featured_media":87341,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1162,26],"class_list":["post-87340","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-court-cases","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/87340","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=87340"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/87340\/revisions"}],"predecessor-version":[{"id":87342,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/87340\/revisions\/87342"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/87341"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=87340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=87340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=87340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}