Binance founder Changpeng “CZ” Zhao has reportedly agreed to step down as CEO of his crypto exchange as the United States Department of Justice (DOJ) prepares to announce that it has secured a $4.3 billion settlement with the company.
According to The Wall Street Journal, CZ intends to plead guilty to several charges levied by the DOJ. He’s scheduled to appear in a federal court in Seattle on Nov. 21, where he will enter his plea, the Journal said. The report also indicates that he will plead guilty to “a criminal charge” related to violating Anti-Money Laundering statutes.