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News Explorer — Binance Founder Changpeng Zhao Is Banned From Operating Exchange, Says CEO

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Sep 6, 1:08 pm
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Binance Founder Changpeng Zhao Is Banned From Operating Exchange, Says CEO

Former Binance CEO Changpeng Zhao has been given a lifetime ban from managing or operating the centralized crypto exchange, as part of a plea agreement with U.S. authorities. Despite the ban, Zhao will retain his shareholder rights as the largest shareholder of Binance. He is set to complete his jail sentence on September 29, after pleading guilty to money laundering and stepping down as CEO.

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