Teng, 53, succeeded Zhao as the chief executive of the world’s largest crypto exchange after the company and Zhao pleaded guilty to US anti-money laundering and sanctions violations.
Binance chief Changpeng Zhao has stepped down and pleaded guilty to breaking US anti-money laundering laws as part of a $4.3 billion settlement, one of the largest corporate penalties in US history.
Binance s Zhao pleads guilty, steps down to settle US illicit finance probe – The Frontier Post thefrontierpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thefrontierpost.com Daily Mail and Mail on Sunday newspapers.
Binance broke US anti-money laundering and sanctions laws and failed to report more than 100,000 suspicious transactions with organizations the US described as terrorist groups including Hamas, al Qaeda and the Islamic State of Iraq and Syria, authorities said.