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Binance CEO pleads guilty to felony as company enters $4B settlement

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Binance founder and CEO Changpeng Zhao pleaded guilty to a felony as the company agreed to pay a $4 billion settlement.

Zhao stepped down after pleading guilty to charges that he failed to prevent money laundering on the platform.

“Using new technology to break the law does not make you a disruptor, it makes you a criminal,” said U.S. Attorney General Merrick Garland.

Read more from The Associated Press.

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