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Binance Pleads Guilty, Loses CEO Zhao, Pays Fines to Legal End Woes

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Cryptocurrency exchange Binance Holdings Ltd. and its Chief Executive Officer Changpeng Zhao have pleaded guilty to anti-money laundering and US sanctions violations. Binance will pay more than $4 billion, and Zhao will pay a $50 million fine under a deal that requires him to step down as he awaits sentencing. Su Keenan reports on Bloomberg Television.
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29 Comments

29 Comments

  1. @Tommy24552

    December 25, 2023 at 9:59 am

    Can't even pronounce the name of the company properly, these dinosaurs.

  2. @Freetofreet

    December 25, 2023 at 9:59 am

    What about the government and Fed reserve making america bank rupt, what do they all get?

  3. @Freetofreet

    December 25, 2023 at 9:59 am

    What about JP Morgan laundered billions over many years and little fines and zero news.

  4. @joshfrench6426

    December 25, 2023 at 9:59 am

    This is the treasury playing robber barron. Also what do these people have in common?

  5. @kookabelt

    December 25, 2023 at 9:59 am

    US government really need money for war 🤣

  6. @marcbastien6142

    December 25, 2023 at 9:59 am

    No jail time 😢😢😢😢

  7. @stargazeronesixseven

    December 25, 2023 at 9:59 am

    🙏 Respect & Salute to Binance CEO Zhao to take responsibility of Binance financial transactions with rogue nations or extremist groups … 🕯🌍🕊

  8. @billybunter5575

    December 25, 2023 at 9:59 am

    there naughty people they have billions of dollars and they are never satisfied greed upon greed well they deserve what is coming.

  9. @muhammadbinamerican8813

    December 25, 2023 at 9:59 am

    Nonsense!!!

  10. @MCorpReview

    December 25, 2023 at 9:59 am

    No jail?😊

  11. @Owninge

    December 25, 2023 at 9:59 am

    fiat currency was considered money laundering and dollar stability threats

  12. @TenzaOnryoGaming

    December 25, 2023 at 9:59 am

    Remember you can’t go to jail if you have enough money

  13. @jayh1391

    December 25, 2023 at 9:59 am

    Current DOJ's accomplishments are listed on their website.

    They brought down more corrupted CEOs and politicians than any others.

    Merrick Garland is amazing.

  14. @D37fit

    December 25, 2023 at 9:59 am

    Looks like the seniors home

  15. @Dwn2Race

    December 25, 2023 at 9:59 am

    So basically the CEO is allowed to customers funds to pay fines…. lol…. see Ya!

  16. @paranoidhumanoid

    December 25, 2023 at 9:59 am

    If it was a years long look into links to criminal groups, then why didn't the US warn Israelis about the Hamas surprise attack months ago? They must have known something. I smell BS!

  17. @ArabicReja973

    December 25, 2023 at 9:59 am

    Chinese 🇨🇳 Huawei Meng Wanzhou faced the same charges, money laundering and sanction violation.

  18. @user-bw4jp3sp2u

    December 25, 2023 at 9:59 am

    US gov fined BNB only after FTX collapsed.

  19. @ryanodonnell4184

    December 25, 2023 at 9:59 am

    Why is a climate activist running the treasury?

  20. @lawrencewong100

    December 25, 2023 at 9:59 am

    FUNDS ARE SAFU, do not panic!!

  21. @volvo8938

    December 25, 2023 at 9:59 am

    She cant even pronounce binance correctly smh

  22. @mob9900

    December 25, 2023 at 9:59 am

    free my boy Cz! funds are SAFU!

  23. @onespeedlite

    December 25, 2023 at 9:59 am

    Another criminal was able to avoid jail with just fines.

  24. @sarjannarwan6896

    December 25, 2023 at 9:59 am

    Are funds still safu?

  25. @jarrodmagnusson4101

    December 25, 2023 at 9:59 am

    This makes no sense at all. Everyone that registers on Binance does KYC. Why would terrorists be so dumb to do this kind of thing anyways. Anything you do on the blockchain is traced and recorded unlike with fiat money. CZ is not even in the US so how are they going to catch him? He's legally doing business in another country and your telling me US can just march on in and get him? Come on guys wake up.

  26. @erichvonmolder9310

    December 25, 2023 at 9:59 am

    Too bad Binance can't go to jail.

  27. @Continentalmunkey88

    December 25, 2023 at 9:59 am

    Useful aspects roll into wolfram, maybe something good came from the experiment

  28. @spoon0857

    December 25, 2023 at 9:59 am

    blockrock took down the Binance

  29. @panoptijohn

    December 25, 2023 at 9:59 am

    A Chinese CEO lying? Say it ain’t so.

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Business

US Stocks Rebound Ahead of Earnings; Zelenskyy Says Trump Pushing Kyiv to Yield

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US equity future rise as tech stocks look set to snap a 8-session losing streak. President Zelenskyy accuses President Trump of trying to push Ukraine to give in to Russia. Elon Musk says he’ll give a SpaceX share to “every kid in America” next year. Ella Gude of BNY joins “Bloomberg Brief” to discuss the global AI trade and valuations.

Chapters:
00:00:00 – Bloomberg Brief begins
00:02:23 – Tech and Asia Markets Rebound
00:04:39 – AI and Markets
00:08:20 – US Ukraine Tensions
00:10:42 – France Protests
00:15:01 – Indonesia Stocks Slide
00:15:27 – China Growth Beats Forecasts
00:16:27 – SpaceX and Nxscale
00:20:16 – Trump Approval Hits 33%
00:21:00 – Barclays Loans Face Scrutiny
00:25:02 – Market Outlook with Ella Gude
00:31:42 – Brazil Election Tightens
00:32:38 – US Ukraine Relations
00:38:13 – AI, IPOs and Earnings
00:42:45 – Big Tech Earnings Ahead
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Saudi Aramco Headquarters Hit in Houthi Attack as Iran Escalates Hormuz Ship Strikes

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Saudi Aramco’s headquarters in Dhahran is hit in a Houthi attack, sparking a fire and marking a major escalation against Saudi energy infrastructure. Iran is also intensifying attacks on shipping in the Strait of Hormuz, adding further pressure to regional trade and energy routes.
Donald Trump says the Houthis are trying to push oil prices higher at Iran’s behest and says he is considering joining the Saudi-led campaign.
Asian stocks rise ahead of US inflation data, while Fed official John Williams says he sees no need for further tightening beyond one more rate increase this month.
Bank of America faces potential fines of around $1.2 billion over alleged money-laundering lapses, while an OpenAI employee has been arrested over a hidden recording device.
At the Bloomberg New Economy Forum in India, Marubeni President and CEO Masayuki Omoto discusses the changing global supply-chain map and the impact of the Middle East war on supplies.
DP World CEO Yuvraj Narayan says the impact of the conflict on shipping, inflation and the cost of trade could be significant, while Cisco Chairman and CEO Chuck Robbins discusses technological sovereignty, resilience and growth opportunities across the Middle East and India.
Dangote Refinery profit surges ahead of a planned IPO, while Senegal’s rapid debt-workout plan faces new obstacles and Botswana is said to be nearing agreement on the size of its stake in De Beers.
Elsewhere, Canadian International Trade Minister Maninder Sidhu discusses India-Canada trade ties, while Mubadala Deputy Group CEO Waleed Al Muhairi says Asia could account for 25% of the group’s portfolio by 2031, with South Korea among the markets he sees as well positioned. Guests includes Charu Chanana, Saxo Chief Investment Strategist, Rachel Ziemba, Ziemba Insights Founder, Masayuki Omoto, Marub

Horizons Middle East & Africa is your daily spotlight on one of the world’s fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg.

Chapters:
00:00:00 – Introduction
00:02:25 – Saudi Aramco Headquarters Hit in Houthi Attack
00:06:37 – Charu Chanana, Saxo Chief Investment Strategist
00:13:18 – Masayuki Omoto, Marubeni President & CEO
00:19:53 – Bloomberg NEF Panel on the ‘Middle Power’ Moment
00:27:08 – Chuck Robbins, Cisco Systems Chairman & CEO
00:36:51 – Rachel Ziemba, Ziemba Insights Founder
00:39:16 – Yuvraj Narayan, DP World CEO
00:42:58 – Maninder Sidhu, Canadian International Trade Minister
00:48:07 – Waleed Al Muhairi, Mubadala Deputy Group CEO
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Netflix Brings in New Executive to Spur Growth

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Netflix Inc. is replacing its chief creative officer with Peter Rice, a veteran TV and film executive, as it tries to spur growth and find new hits. He’ll be in charge of scripted and unscripted series, film and live events across all regions. Bloomberg’s Ed Ludlow reports.
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Rethinking America’s Faith in Innovation

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Author Thomas Frank tells Bloomberg This Weekend that America’s celebration of creativity and innovation has helped justify policies that elevated white-collar knowledge work while contributing to inequality and the decline of manufacturing. Speaking with hosts David Gura and Christina Ruffini about his new book, The Creativity Con, Frank argues that innovation is neither uniquely American nor a guarantee of broadly shared prosperity.
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Fighting Inflation | Bloomberg Surveillance 01/26/2024

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Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern have the economy and global markets “under surveillance”. Their daily conversations with leaders and decision makers from Wall Street to Washington and beyond cover the latest in business, investment, and geopolitics. No other program better positions investors and executives for the trading day.
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