ADVERTISEMENT
Apples Bite Int'l Magazine
  • News Bite
    • All
    • Arts
    • Events
    • International
    • National
    • Politics
    • Press Release
    • Security
    • Show Biz
    • Sports
    Terrorists Kidnap Businessman, Islamic Cleric in Kwara, Demand ₦65 Million Ransom

    Terrorists Kidnap Businessman, Islamic Cleric in Kwara, Demand ₦65 Million Ransom

    Bella Shmurda Cries Out After Alleged $4 Million Real Estate Scam

    Bella Shmurda Cries Out After Alleged $4 Million Real Estate Scam

    Court Orders Status Quo in Oloja of Lagos Chieftaincy Dispute, Fixes October Hearing

    Court Orders Status Quo in Oloja of Lagos Chieftaincy Dispute, Fixes October Hearing

    PSC Publishes List of 50,000 Successful Police Constable Recruits

    PSC Publishes List of 50,000 Successful Police Constable Recruits

    Tinubu Says Economic Reforms Are Delivering Steady Growth, Seeks Stronger Partnership With Deloitte Africa

    Tinubu Says Economic Reforms Are Delivering Steady Growth, Seeks Stronger Partnership With Deloitte Africa

    Family Announces Burial Plans for Mary Habila as Police Continue Investigation Into Her Death at Minister Umahi’s Residence

    Family Announces Burial Plans for Mary Habila as Police Continue Investigation Into Her Death at Minister Umahi’s Residence

    Court Grants Former CCT Chairman Danladi Umar ₦100 Million Bail

    Court Grants Former CCT Chairman Danladi Umar ₦100 Million Bail

    Senate Approves ₦50m Support for Families of Teachers, Security Personnel Killed in Oyo School Rescue

    Senate Approves ₦50m Support for Families of Teachers, Security Personnel Killed in Oyo School Rescue

    Akpabio: Senate Won’t Create Conflict With Tinubu to Prove Independence

    Akpabio: Senate Won’t Create Conflict With Tinubu to Prove Independence

    • Politics
    • International
    • National
    • Show Biz
    • Events
    • Security
    • Sports
    • Press Release
  • Lifestyle Bite
    • Fitness
    • Nutrition
    • Personal Growth
    • Travel
  • Health Bite
    • Doctor’s Diagnosis
  • Brand & Business Bite
    • Energy
  • Fashion Bite
  • Opinion Bite
    • Featured Story
    • Fiction & Poetry
    • Career
    • Teachings
    • ABM Staff Blog
    • ABM True Stories
    • Research
    • Tech
  • More
    • Latest Magazine Issue
    • Leadership 360°
    • Religion
    • Education
    • Law
    • Metro
    • Romance
      • Love
      • Sex and Relationship
      • ABM TV
      • Interviews
      • Movies
      • Red Carpets
  • Contact Us
No Result
View All Result
  • News Bite
    • All
    • Arts
    • Events
    • International
    • National
    • Politics
    • Press Release
    • Security
    • Show Biz
    • Sports
    Terrorists Kidnap Businessman, Islamic Cleric in Kwara, Demand ₦65 Million Ransom

    Terrorists Kidnap Businessman, Islamic Cleric in Kwara, Demand ₦65 Million Ransom

    Bella Shmurda Cries Out After Alleged $4 Million Real Estate Scam

    Bella Shmurda Cries Out After Alleged $4 Million Real Estate Scam

    Court Orders Status Quo in Oloja of Lagos Chieftaincy Dispute, Fixes October Hearing

    Court Orders Status Quo in Oloja of Lagos Chieftaincy Dispute, Fixes October Hearing

    PSC Publishes List of 50,000 Successful Police Constable Recruits

    PSC Publishes List of 50,000 Successful Police Constable Recruits

    Tinubu Says Economic Reforms Are Delivering Steady Growth, Seeks Stronger Partnership With Deloitte Africa

    Tinubu Says Economic Reforms Are Delivering Steady Growth, Seeks Stronger Partnership With Deloitte Africa

    Family Announces Burial Plans for Mary Habila as Police Continue Investigation Into Her Death at Minister Umahi’s Residence

    Family Announces Burial Plans for Mary Habila as Police Continue Investigation Into Her Death at Minister Umahi’s Residence

    Court Grants Former CCT Chairman Danladi Umar ₦100 Million Bail

    Court Grants Former CCT Chairman Danladi Umar ₦100 Million Bail

    Senate Approves ₦50m Support for Families of Teachers, Security Personnel Killed in Oyo School Rescue

    Senate Approves ₦50m Support for Families of Teachers, Security Personnel Killed in Oyo School Rescue

    Akpabio: Senate Won’t Create Conflict With Tinubu to Prove Independence

    Akpabio: Senate Won’t Create Conflict With Tinubu to Prove Independence

    • Politics
    • International
    • National
    • Show Biz
    • Events
    • Security
    • Sports
    • Press Release
  • Lifestyle Bite
    • Fitness
    • Nutrition
    • Personal Growth
    • Travel
  • Health Bite
    • Doctor’s Diagnosis
  • Brand & Business Bite
    • Energy
  • Fashion Bite
  • Opinion Bite
    • Featured Story
    • Fiction & Poetry
    • Career
    • Teachings
    • ABM Staff Blog
    • ABM True Stories
    • Research
    • Tech
  • More
    • Latest Magazine Issue
    • Leadership 360°
    • Religion
    • Education
    • Law
    • Metro
    • Romance
      • Love
      • Sex and Relationship
      • ABM TV
      • Interviews
      • Movies
      • Red Carpets
  • Contact Us
No Result
View All Result
Apples Bite Int'l Magazine
No Result
View All Result
Adron Homes Lemon Friday
Home Brand & Business Bite

Binance Founder Changpeng Zhao Pleads Guilty To Money Laundering Violations

Madukwe Nwabuisi by Madukwe Nwabuisi
November 24, 2023
in Brand & Business Bite, News Bite
Reading Time: 2 mins read
0
BREAKING: FG Quits Money Laundering Charges Against Binance Executive, Gambaryan

Gambaryan

0
SHARES
15
VIEWS
Share on FacebookShare on Twitter

After pleading guilty to federal criminal charges and stepping down from his post as Binance CEO, Changpeng Zhao on Tuesday named Richard Teng as the new CEO of the cryptocurrency exchange Zhao founded.

Teng, a former CEO of Abu Dhabi Global Market, the UAE capital’s financial services regulator, was most recently global head of regional markets at Binance. He was also previously director of corporate finance at the Monetary Authority of Singapore.

In a post on X, Zhao said he “must take responsibility” and that it was “not easy to let go emotionally.” The controversial crypto entrepreneur, who was accused of violating the U.S. Bank Secrecy Act and sanctions, added that he was “proud to point out” U.S. agencies did not allege Binance had misappropriated user funds or engaged in market manipulation.

The remarks are the first public comments Zhao made after he agreed to a plea deal with the U.S. Department of Justice earlier Tuesday.

“I can’t see myself being a CEO driving a startup again,” Zhao said. “I am content being an one-shot (lucky) entrepreneur.”

“Should there be listeners, I may be open to being a coach/mentor to a small number of upcoming entrepreneurs, privately,” he said. “If for nothing else, I can at least tell them what not to do.”

The case against Binance, which was disclosed Tuesday, shows that three criminal charges were brought against the exchange, including conducting an unlicensed money-transmitting business, violating the International Emergency Economic Powers Act, and conspiracy. The exchange has agreed to $4.3 billion in fines and forfeiture.

Zhao personally pleaded guilty to violating and causing a financial institution to violate the Bank Secrecy Act, according to the plea agreement. The Department of Justice is also recommending that the court impose a $50 million fine on Zhao.

The settlement comes after FTX founder Sam Bankman-Fried was found guilty of several criminal counts of fraud and conspiracy on Nov. 2 following just three hours of deliberation by the jury. Experts told CNBC that, for a high-profile monthlong trial that involved nearly 20 witnesses and hundreds of exhibits, they’d never seen such a speedy decision.

Zhao has been released on a $175 million personal recognizance bond secured by $15 million in cash and has a sentencing hearing scheduled for Feb. 23.

Zhao described Teng as a “highly qualified leader” and added that “with over three decades of financial services and regulatory experience, he will navigate the company through its next period of growth.”

“With CZ, and our leadership team’s support,” Teng said in a post Tuesday on X, “I have accepted this role so that we can continue to meet and exceed the expectations of stakeholders while achieving our core mission, the freedom of money.”

Teng added that his focus will be on three key areas: “reassuring users that they can remain confident in the financial strength, security and safety of the company,” “collaborating with regulators to uphold high standards globally that foster innovation while providing important consumer protections,” and “working with partners to drive growth and adoption of Web3.”

RelatedPosts

Terrorists Kidnap Businessman, Islamic Cleric in Kwara, Demand ₦65 Million Ransom

Terrorists Kidnap Businessman, Islamic Cleric in Kwara, Demand ₦65 Million Ransom

July 16, 2026
Bella Shmurda Cries Out After Alleged $4 Million Real Estate Scam

Bella Shmurda Cries Out After Alleged $4 Million Real Estate Scam

July 16, 2026
Court Orders Status Quo in Oloja of Lagos Chieftaincy Dispute, Fixes October Hearing

Court Orders Status Quo in Oloja of Lagos Chieftaincy Dispute, Fixes October Hearing

July 16, 2026

“He will ensure Binance delivers on our next phase of security, transparency, compliance, and growth,” Zhao said.

Creative Economy Minister, Hannatu Appoints Indicted Energy Thief Faiz Imam as Principal Adviser

Madukwe B. Nwabuisi
Madukwe Nwabuisi

Madukwe B. Nwabuisi is an accomplished journalist renown for his fearless reporting style and extensive expertise in the field. He is an investigative journalist, who has established himself as a kamikaze reporter.

Tags: Binance Founder Changpeng Zhao Pleads Guilty To Money Laundering Violations

Related Posts

PSC Publishes List of 50,000 Successful Police Constable Recruits
News Bite

PSC Publishes List of 50,000 Successful Police Constable Recruits

July 16, 2026
Tinubu Says Economic Reforms Are Delivering Steady Growth, Seeks Stronger Partnership With Deloitte Africa
News Bite

Tinubu Says Economic Reforms Are Delivering Steady Growth, Seeks Stronger Partnership With Deloitte Africa

July 16, 2026
NESCAFÉ Rewards Over 41,000 Nigerians, Empowers Four Entrepreneurs in Next Level Promo
Brand & Business Bite

NESCAFÉ Rewards Over 41,000 Nigerians, Empowers Four Entrepreneurs in Next Level Promo

July 16, 2026
Family Announces Burial Plans for Mary Habila as Police Continue Investigation Into Her Death at Minister Umahi’s Residence
News Bite

Family Announces Burial Plans for Mary Habila as Police Continue Investigation Into Her Death at Minister Umahi’s Residence

July 15, 2026
Court Grants Former CCT Chairman Danladi Umar ₦100 Million Bail
News Bite

Court Grants Former CCT Chairman Danladi Umar ₦100 Million Bail

July 15, 2026
Senate Approves ₦50m Support for Families of Teachers, Security Personnel Killed in Oyo School Rescue
News Bite

Senate Approves ₦50m Support for Families of Teachers, Security Personnel Killed in Oyo School Rescue

July 15, 2026
Load More
No Result
View All Result

Recent Posts

  • Terrorists Kidnap Businessman, Islamic Cleric in Kwara, Demand ₦65 Million Ransom
  • Bella Shmurda Cries Out After Alleged $4 Million Real Estate Scam
  • Court Orders Status Quo in Oloja of Lagos Chieftaincy Dispute, Fixes October Hearing
  • PSC Publishes List of 50,000 Successful Police Constable Recruits
  • Tinubu Says Economic Reforms Are Delivering Steady Growth, Seeks Stronger Partnership With Deloitte Africa

Recent Comments

    Apples Bite Int'l Magazine

    Apples Bite Magazine is your premier destination for updates in business, daily news, and entertainment. At Apples Bite, we serve insightful stories and in-depth analysis, curated to empower professionals, entrepreneurs, and forward-thinking individuals who thrive on staying ahead of the curve.

    © 2026. All Rights Reserved. ApplesBite International Magazine.

    No Result
    View All Result
    • News Bite
      • Politics
      • International
      • National
      • Show Biz
      • Events
      • Security
      • Sports
      • Press Release
    • Lifestyle Bite
      • Fitness
      • Nutrition
      • Personal Growth
      • Travel
    • Health Bite
      • Doctor’s Diagnosis
    • Brand & Business Bite
      • Energy
    • Fashion Bite
    • Opinion Bite
      • Featured Story
      • Fiction & Poetry
      • Career
      • Teachings
      • ABM Staff Blog
      • ABM True Stories
      • Research
      • Tech
    • More
      • Latest Magazine Issue
      • Leadership 360°
      • Religion
      • Education
      • Law
      • Metro
      • Romance
        • Love
        • Sex and Relationship
        • ABM TV
        • Interviews
        • Movies
        • Red Carpets
    • Contact Us

    © 2026. All Rights Reserved. ApplesBite International Magazine.