Binance Fined $4.3 Billion, CEO Pleads GUILTY.

In this video by American youtuber and cryptocurrency journalist Coffeezilla, the author comprehensively explains the recent situation regarding Binance, a global company that operates the world's largest cryptocurrency exchange.

On November 21, 2023, U.S. authorities convicted Binance of multiple charges, including violating the Bank Secrecy Act and extensive money laundering schemes. As part of the plea deal, Changpeng Zhao resigned as CEO and was fined $50 million. 

The company itself agreed to pay $4.3 billion to settle the criminal charges.