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This week, BINANCE and its CEO, Changpeng Zhao, acknowledged breaches of anti-money laundering and U.S. sanctions laws. As part of a settlement with the Justice and Treasury Departments and the Commodity Futures Trading Commission, Zhao will step down as CEO, contributing $50 million to the resolution in addition to Binance’s $4.3 billion payment. This development comes just a week after famous investor Kevin O’Leary predicted to Benzinga that Binance would soon follow FTX. In a follow-up conversation on Tuesday, O’Leary expressed his lack of surprise, highlighting the remaining challenge due
