Binance CEO Changpeng Zhao Resigns and Plans to Plead Guilty to Federal Charges

CEO Changpeng Zhao stepping down from position at Binance amid federal money laundering charges. Binance to forfeit $2.5 billion and pay $1.8 billion fine to government. Zhao and others accused of failing to implement anti-money laundering measures, willfully violating economic sanctions. Zhao stepping down as CEO, former global head of regional markets Richard Teng taking over. Binance to remain in operation under stricter rules and compliance measures. SEC charges against Binance and Zhao not resolved in settlement.