Investors pull nearly $1 billion from Binance after CEO's guilty plea in U.S. money laundering case
Data firm Nansen has reported that investors withdrew approximately $956 million from Binance within the past 24 hours, following the resignation of the exchange's chief, Changpeng Zhao, who pleaded guilty to violating US anti-money laundering laws. Binance has agreed to pay $4.3 billion to US authorities to settle a long-standing illicit finance investigation, which has raised concerns about the future of the world's largest crypto exchange. While Zhao has been replaced by Richard Teng, a senior Binance executive, the news has still unsettled some customers of the exchange, although the outflows are relatively small compared to the platform's total holdings.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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