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Topic: Changpeng Zhao (CZ) has resigned as Binance CEO. - page 3. (Read 453 times)

full member
Activity: 1008
Merit: 139
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Let us expect nothing to happen to the exchange but this may lead to loophole in the exchange. If Binance become breached or hacked as the next exchange, it will not be a surprise. But let us see what will happen.

I'm a bit confused here.  How exactly would Binance getting hacked have anything to do with CZ stepping down as CEO? Those seem like completely separate issues to me. 

Maybe there's some logic I'm missing connecting those dots and  i know exchanges can definitely get targeted by hackers, but unless CZ leaving made their systems more vulnerable for some reason, I dont really see the correlation. 
legendary
Activity: 1624
Merit: 1200
Gamble responsibly
Anyway, it's a part of the deal as according to it he won't be able to have an executive role in Binance US but he will keep the ownership of the company so nothing much changes really. He will have to pay 4.3 billion USD thoug.
I guess he realized that there's no point fighting them and instead it's better to plead guilty, pay the fine and continue with the business.
I do not think Binance just admitted but now know that truly he violated anti-money laundering requirements.

Let us expect nothing to happen to the exchange but this may lead to loophole in the exchange. If Binance become breached or hacked as the next exchange, it will not be a surprise. But let us see what will happen.
legendary
Activity: 2422
Merit: 1083
Leading Crypto Sports Betting & Casino Platform
Details coming shortly
You could have waited then for some details instead basically creating an empty topic with the title only.

Yeah, forgive me, I didn't want to do copy paste, and I am not a keyword worrier when it comes to typing, Grin and I didn't want a situation where by, before I finish reading and typing, another user have already posted the same thing, this is why I had to first of all post the title with empty body, but all is good now I guess.

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Anyway, it's a part of the deal as according to it he won't be able to have an executive role in Binance US but he will keep the ownership of the company so nothing much changes really. He will have to pay 4.3 billion USD thoug.
I guess he realized that there's no point fighting them and instead it's better to plead guilty, pay the fine and continue with the business.
I personally thought he was winning the fight, and all of a sudden this?
I really hope that investors will understand this just as you have said it, else, many might panic sell and drag the market down.
legendary
Activity: 1722
Merit: 5937
Details coming shortly
You could have waited then for some details instead basically creating an empty topic with the title only.

Anyway, it's a part of the deal as according to it he won't be able to have an executive role in Binance US but he will keep the ownership of the company so nothing much changes really. He will have to pay 4.3 billion USD thoug.
I guess he realized that there's no point fighting them and instead it's better to plead guilty, pay the fine and continue with the business.
hero member
Activity: 812
Merit: 619
Yes News is coming from all over the crypto news pages. BNB coin was looking good pumped from 250 to 272$ but suddenly down to 250 with same speed because of this news. More blood coming because this news is quite new and many investors are still unaware of it. BTC also dumped now. Is this will be the end of Binance or everything will become normal. This will be big question now how Binance team manage current situation.

I read this one from watcher guru

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JUST IN: #Binance    CEO CZ pleads guilty to violating criminal anti-money laundering requirements.


Source
legendary
Activity: 2422
Merit: 1083
Leading Crypto Sports Betting & Casino Platform
Binance CEO, changpeng Zhao, popularly known as CZ, have stepped down as Binance CEO, after pleading guilty to violating criminal anti-money laundering requirements.

Binance was asks to pay the sum of $4 billion dollars to the US department of Justice for them to end criminal investigations against the world largest exchange, binance.

As part of the settlement, binance ceo resigned from being the chairman of the exchange.

More details on this can be found here https://bitcoinist.com/binance-ceo-to-step-down-4-billion-settlement/

The big question now Is, WHAT becomes of Binance?

Binance have also agreed to pay the sum of $4.3 billion dollars to the US government Angry.
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