#CryptoMarketDip

On Nov. 21, 2023, Binance and its CEO Changpeng Zhao pleaded guilty to money laundering charges. Binance agreed to pay $4.3 billion to settle charges; Changpeng Zhao stepped down as CEO and agreed to pay $50 million toward the settlement. On April 30, 2024, Zhao was sentenced to four months in prison and fined $200 million for not complying with U.S. anti-money laundering laws. As of May 11, 2024, Binance is operational and remains a popular cryptocurrency exchange.