Binance CEO Changpeng Zhao is reportedly stepping down from his position at the exchange after pleading guilty to violating U.S. anti-money laundering requirements. The Wall Street Journal has reported that Binance will also plead guilty to money laundering violations. The news caused the value of BNB, the token backed by Binance, to fluctuate dramatically, reaching a high of nearly $270 before dropping to $240. The United States Department of Justice is expected to announce a settlement with Binance, along with other cryptocurrency enforcement actions, in a press conference. BNB’s price surge is also linked to legal actions taken by the Securities and Exchange Commission against Binance. Despite the recent increase, BNB’s value is still significantly below its all-time high. The DOJ is seeking a settlement of over $4 billion from Binance to resolve allegations of criminal activities. Binance is the largest crypto exchange by trading volume, but its regulatory struggles in various jurisdictions have brought renewed attention to the company.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	negative
Relevance Score	1
People	Rostin Behnam, Lisa Monaco, Janet Yellen, Changpeng Zhao, Merrick Garland
Companies	Binance, United States Department of Justice (DOJ), Commodity Futures Trading Commission (CFTC), Wall Street Journal, Securities and Exchange Commission (SEC)
Currencies	BNB
Securities	None