BINANCE Chief "CZ" pleads guilty to Money Laundering   

Nov 22 (Lagos) - The CEO of the world's top cryto-currency exchange, "CZ" pleaded guilty for money laundering charges and his Company Binance agreed to pay more than $4 billion in fines to the US Government. He has also stepped down from the role as CEO of Binance. The value of the Binance coin plummeted as that was used to pay the US Government fines. 

The sentencing will be after about  6 months. So will he join Sam Bankman-Fried in jail or not remains to be seen. Bankman-Fried ran a similar exchange called FTX which collapsed in 2022 and a lot of people lost their investments. Bankman-Fried in his heyday rubbed shoulders with the like of Bill Clinton, Former US President , top personalities from hollywood and sports from around the world. Now his biggest contemporary has also been found to be guilty of major offenses although "CZ" as the Binance chief is known has pleaded guilty rather than not guilty as in the case of Bankman-Fried. 

From the settlement, it seems that Binance will be allowed to continue to operate. More clarity will emerge as time passes. Binance is already banned in USA, Canada and some other countries. 
reporting for on Wednesday, Nov 22 2023 from Lagos, Nigeria
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