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Did Binance pay $4.3 billion to settle criminal money laundering charges?

The world's largest cryptocurrency exchange, Binance, has pleaded guilty and agreed to pay $4.3 billion to settle criminal money laundering charges levied by the U.S. Department of Justice. Binance founder and CEO, Changpeng Zhao, also known as CZ, has also pleaded guilty and agreed to step down from his position.

Why is the Justice Department seeking $4 billion from Binance holdings?

REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights Nov 20 (Reuters) - The U.S. Justice Department is seeking more than $4 billion from Binance Holdings as part of a proposed resolution of a years-long investigation, Bloomberg News reported on Monday, citing people familiar with the discussions.

How much will Binance pay in a cryptocurrency case?

The exact timing and structure of the proposed resolution and specific charges aren’t clear. However, Binance would likely be expected to pay more than $4 billion, which would be one of the largest-ever penalties in a criminal cryptocurrency case.

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