According to a recent Axios report, Changpeng Zhao (CZ), the former CEO of Binance, may face a lifetime ban from managing the cryptocurrency exchange. Richard Teng, Binance’s current CEO, stated that CZ might face a permanent ban instead of the previously reported three-year restriction. In November 2023, U.S. authorities announced a $4.3 billion settlement with Binance, during which Zhao admitted to violating the Bank Secrecy Act. He was sentenced to four months in prison and is expected to be released soon.
Source: cointelegraph.com
