Who is Binance’s Chanpeng Zhao aka CZ, the latest ‘crypto czar’ to fall from grace

News Snapshot:

Changpeng Zhao, widely known as CZ, the Founder and CEO of Binance, the world’s largest cryptocurrency exchange, has resigned from his position after pleading guilty to violating US anti-money laundering laws, according to a Reuters report. The development follows a $4.3 billion settlement deal reached in a Seattle court on November 21, with Zhao agreeing to a personal payout of $50 million, marking one of the largest corporate penalties in US history. As part of the settlement, Binance is set to pay $1.81 billion within 15 months, followed by another $2.51 billion forfeiture. Despite the significant setback for the cryptocurrency...