Changpeng Zhao, the chief executive of the world’s largest cryptocurrency exchange, Binance, pleaded guilty on Tuesday to US money laundering violations. In a plea deal, the crypto exchange behemoth that Zhao founded will pay over USD 4 billion in penalties.

“Binance became the world’s largest cryptocurrency exchange in part because of the crimes it committed –- now it is paying one of the largest corporate penalties in US history,” Attorney General Merrick Garland said in a statement.

Binance CEO Pleads Guilty in Historic Money Laundering Case, Faces $4B in Penalties comes via ChinaTechNews.com.