Founder of Binance, world’s largest crypto exchange, pleads guilty to anti-money laundering charge

By LINDSAY WHITEHURST, EUGENE JOHNSON and ERIC TUCKER
Associated Press

SEATTLE (AP) — The founder of the world’s largest cryptocurrency exchange Binance has pleaded guilty to a felony charge that he failed to take steps to prevent money laundering. Founder and CEO Changpeng Zhao pleaded guilty to one count of failure to maintain an effective anti-money-laundering program in federal court in Seattle on Tuesday. The plea comes as the company agreed to pay over $4 billion as part of an agreement with the U.S. government. A person familiar with the agreement told The Associated Press the amount. They spoke on condition of anonymity ahead of an expected announcement.