Binance chief Changpeng Zhao pleads guilty to money laundering charges

The Binance chief executive, Changpeng Zhao, has resigned after pleading guilty to money laundering violations.

He said in a post on X that he “made mistakes” and “takes responsibility” for the charges.

The US Justice Department said it was requiring Binance, the largest crypto-exchange in the world, to pay $4.3bn (£3.4bn) in penalties and forfeitures, saying Binance had helped users bypass sanctions across the world.