Seattle judge accepts former Binance CEO Changpeng Zhao's guilty plea
Quick Take
- Judge Richard Jones accepted Zhao’s guilty plea on Wednesday, according to a court filing in the U.S. District Court for the Western District of Washington in Seattle.
A U.S. district judge has accepted a guilty plea from former Binance CEO Changpeng Zhao on charges related to anti-money laundering violations.
Judge Richard Jones accepted Zhao's guilty plea on Wednesday, according to a court filing in the U.S. District Court for the Western District of Washington in Seattle.
Zhao, also known as CZ, pleaded guilty last month to anti-money laundering and sanctions violations following years-long probes by federal regulators. Binance agreed to pay $4.3 billion in one of the largest corporate settlements in history. Zhao agreed to pay a $50 million fine and stepped down as CEO.
Stepping down
Zhao also stepped down as chairman of the board of directors for Binance.US last week, effectively removing his influence from Binance.US's governance and rendering his interest in the U.S. arm of the exchange "purely economic."
Zhao has been active on X since stepping down as Binance CEO and pleading guilty. Over the past week, he has posted about his lunch, reposted the new Binance CEO Richard Teng and talked about taking risks.
"10 years ago today, I quit my job, sold my house, and aped into #bitcoin," Zhao posted. "No, I am not saying you should do the same. Many people asked, how could you take such risks? Me, I knew I could easily get a job... Everyone's risk profile is different. Learn risk management."
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