Binance CEO Changpeng 'CZ' Zhao has agreed to plead guilty to anti-money laundering charges as part of a deal with the Department of Justice that will see the crypto exchange pay $4.3billion to end the criminal probe against the company. The founder of the world's largest crypto currency exchange also agreed to step down as Binance CEO during a hearing in Seattle on Tuesday. However, he reportedly plans to maintain majority ownership of the firm, founded in 2017.The court has also recommended Zhao pay a $50 million fine and is barred from all involvement with Binance. He is expected to be sentenced at a later date.
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