_x000D_Screenshot: href=”https://www.youtube.com/watch?v=3swuaDRp3Xo”>Entrepreneur ME – YouTube

Who is the billionaire tycoon behind Binance, the world’s largest cryptocurrency exchange by trading volume?

Changpeng Zhao is the co-founder and CEO of Binance, which he launched in 2017 after raising $15 million through an initial coin offering. Binance offers various services to crypto enthusiasts, such as trading, stakes, lending, mining, and launching new tokens. In March 2023, the Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance and Zhao in Illinois, claiming they breached derivatives rules and operated a “>web of deception.”> On June 5, 2023, the SEC joined the legal attack with 13 charges against Binance and Zhao. The SEC said Binance had mixed “>billions of dollars”> in customer funds and secretly sent them to a separate company controlled by Zhao. Zhao has vowed to defend his platform vigorously and said Binance is not a US exchange._x000D_will pay a $50 million fine and step down as CEO. Binance had agreed to pay $4.3 billion in fines as part of a guilty plea.