What happened to Binance CEO Changpeng Zhao?

Binance itself agreed to plead guilty to criminal charges and pay over US$4 billion in penalties. Zhao stepped down as CEO and will pay a US$50 million fine. Binance chief executive Changpeng Zhao leaves the U.S. District Court on Tuesday in Seattle, Washington after pleading guilty to a money-laundering charge. Photo by David Ryder/Getty Images

What happened to Binance's share in the crypto spot market?

According to figures from industry data provider CCData, Binance’s share of the crypto spot market fell to roughly 32 per cent at the end of November from a high of well over 50 per cent at the start of the year. Its hold on the crypto derivatives market has shrunk from 64 per cent in December 2022 to 48 per cent.

Did Binance violate securities laws?

In June, the US Securities and Exchange Commission filed 13 civil charges accusing Binance of violations including mixing billions of dollars of customer cash with a separate trading firm owned by its chief executive and operating unregistered exchanges, broker-dealers and clearing agencies.