Go to Source Author: Ian Allison
The price of BNB fell on Tuesday after reports first emerged that Binance CEO Changpeng ‘CZ’ Zhao planed to step down as part of a plea deal.
Binance co-founder and CEO Changpeng Zhao will step down from the company amid a DOJ settlement and ongoing regulatory woes.
A CZ departure could be a part of a $4 billion settlement with the U.S. Justice Department, Forbes reported on Tuesday.
Altcoins took the brunt of Tuesday’s market retrace as investor caution increased ahead of the release of Federal reserve minutes.
The round saw additional participation from its existing investors Sequoia, Blue Yard and Archetype, as well as numerous angel investors.
The DOJ is set to announce “separate but related cryptocurrency enforcement actions” that involve a settlement with crypto exchange Binance.