A compliance officer for the cryptocurrency exchange told senior executives and Nigerian contacts that the company had been asked to pay $150 million in crypto.
Changpeng Zhao, the founder and former chief executive of the Binance cryptocurrency exchange, had pleaded guilty to a money-laundering violation.
Since pleading guilty to violating money-laundering rules, Changpeng Zhao, who ran the giant crypto exchange Binance, has networked across the United States to set up his next act.
Lawyers for Changpeng Zhao, the founder of the crypto exchange Binance, countered that he should receive no prison time.
Tigran Gambaryan, an American compliance official for the giant cryptocurrency exchange Binance, flew to Nigeria in February for a planned two-day business trip. He hasn’t returned.
A year ago, Sam Bankman-Fried and Changpeng Zhao ran two of the largest crypto companies. As they grapple with legal woes, others are jockeying to lead the industry’s next chapter.
Changpeng Zhao, better known as CZ, faces as much as 18 months in prison after he pleaded guilty to federal money-laundering violations.
It’s full steam ahead for the tech world despite, well, everything.
The crypto exchange treated them as essential customers, the government said. U.S. authorities want the industry to understand how bad that is for business.
Changpeng Zhao will pay a $50 million fine and step down as chief executive of the company he created, the latest blow to the crypto world since the implosion of FTX last year.
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