In photos: The sudden downfall of Changpeng Zhao, the crypto titan behind Binance

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In photos: The sudden downfall of Changpeng Zhao, the crypto titan behind Binance

Zhao stepped down as CEO this week, and will pay a $50 million fine

Published: November 23, 2023 12:50 Dona Cherian, Assistant Online Editor and Inputs from Bloomberg

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STOCK - Changpeng Zhao — On Tuesday, Changpeng Zhao (46), founder and ex-CEO of Binance - one of the world's most prolific crypto firms - pled guilty to criminal charges for failing anti-money laundering regulations and US sanctions violations, including allowing transactions with terrorist groups. Image Credit: Bloomberg Archives

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Copy of Copy of 2023-06-05T180229Z_1277206323_RC27TX9PR8RQ_RTRMADP_3_USA-SEC-BINANCE-1698387786495 — After working at crypto firms Blockchain.info and OKCoin, he started Binance in 2017 using a $15 million crowdsale, together with Chief Marketing Officer Yi He, with whom he has children. Image Credit: REUTERS

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BINANC — Within just a few years, Zhao became the richest and most influential person in crypto. Favoring a buzz cut and black polo shirts featuring Binance's logo, he became a fixture on the crypto conference circuit, spending 580 hours on airplanes in 2022 by his own estimate. Image Credit: Reuters

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Copy of 2023-06-15T173848Z_1214801585_RC2SJ1A69FEG_RTRMADP_3_USA-SEC-BINANCE-LAYOFFS.JPG-1695366451685 — Zhao played a key role in bringing cryptocurrencies into the mainstream. He built Binance into a juggernaut that at one point controlled almost two-thirds of spot trading over centralized exchanges - attracting scrutiny from regulators and law enforcement agencies around the world along the way Image Credit: REUTERS

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Copy of 2023-06-05T180156Z_1119941212_RC25D1ATVN2K_RTRMADP_3_USA-SEC-BINANCE-1686047003227 — Binance rose to the top because crypto investors loved its speed of execution and new products. While its market share has slipped this year, it still accounts for about half of global crypto trading volumes, according to research firm CCData. Image Credit: REUTERS

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Copy of 2023-07-20T230258Z_921558517_RC2TJ1AN1CM6_RTRMADP_3_FTX-BANKMANFRIED-LAWSUIT-1692786762062 — The departure of crypto's perhaps most iconic remaining executive comes as the industry tries to put its reputation for scandals, scams and other illicit activities behind it. Several entrepreneurs associated with that era, from Bankman-Fried (pictured above) to Do Kwon and Alex Mashinsky, are either in jail or have been charged with alleged crimes that led to multibillion-dollar losses Image Credit: REUTERS

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Copy of 2022-12-14T113716Z_334139566_RC2ODX97F294_RTRMADP_3_FINTECH-CRYPTO-BINANCE-1671260748465 — Investors pulled about $956 million from crypto exchange Binance over 24 hours, market data showed, after its chief, Changpeng Zhao, stepped down and faced prison time. Image Credit: REUTERS

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Changpeng Zhao — The former CEO faces as many as 10 years in prison but is expected to get no more than 18 months under a plea deal that appears to have saved him from the harsh penalties that other prominent crypto criminals have faced. Image Credit: Bloomberg

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20231121 richard teng — Richard Teng succeeded Zhao as Binance CEO. Teng, a civil servant-turned-crypto executive, had become the frontrunner to take over as CEO as regulatory scrutiny of Binance and Zhao intensified. Zhao in late May appointed him as head of all regional markets outside the US. Image Credit: Bloomberg

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In photos: The sudden downfall of Changpeng Zhao, the crypto titan behind Binance

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In photos: The sudden downfall of Changpeng Zhao, the crypto titan behind Binance

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