On November 23, social network X restricted access to the account of former Binance CEO Changpeng Zhao (CZ) without explanation. At the time of writing, the problem has been resolved.
The whole “temporary restriction” thing was just me trying to send a Happy Thanksgiving tweet. 😂
— CZ 🔶 BNB (@cz_binance) November 23, 2023
He suggested that the ban was an automatic response to his profile name being changed from “CZ Binance” to “CZ BNB.”
On November 21, in a deal with the US Department of Justice, Binance agreed to pay fines totaling $4.3 billion amid an ongoing investigation by the department and SEC in relation to the company and CZ.
The agreement involves filing charges against Zhao for money laundering, financial fraud and sanctions violations. He agreed to resign as CEO, pleading guilty to the violations alleged by the authorities, and must personally pay $50 million in fines.
By agreement with FinCEN The crypto exchange will implement a “full exit” from the US and appoint a five-year observer who will oversee the internal sanctions compliance program
CZ also posted a $175 million bail to remain free. However, prosecutors demanded that he be banned from leaving the United States for fear of flight. Sentencing is scheduled for February 23, 2024.
Richard Teng, head of regional markets, became the new head of Binance.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
