Changpeng Zhao became crypto’s richest person while evading sanctions laws. His pleading guilty to money laundering charges is unlikely to change that–at least for now.
The US Justice Department is seeking more than $4 billion from Binance Holdings Ltd. as part of a proposed resolution of a years-long investigation, Bloomberg News reported. Negotiations between the Justice Department and Binance include the possibility that its founder Changpeng Zhao would face criminal charges in the US under an agreement to resolve the probe into alleged money laundering, bank fraud and sanctions violations, according to people familiar with the discussions.