Key Takeaways
- CZ said he would invest any refunded portion of Binance’s $4.3 billion settlement in the US.
- The Binance founder, however, has not sought a refund and does not know if one is possible.
Changpeng Zhao, Binance’s former CEO, said he would invest any money returned from Binance’s $4.3 billion settlement in the US as a gesture of appreciation.
The crypto entrepreneur expressed gratitude for a recent presidential pardon. He noted that he had not requested a refund and was unsure if any would be granted.
Binance paid the $4.3 billion fine in November 2023 as part of a comprehensive settlement with the Department of Justice and other US agencies to resolve charges including anti-money laundering violations and sanctions evasion. CZ stepped down as CEO and served a four-month prison sentence as part of the agreement.
The settlement marked one of the largest corporate penalties in crypto history and allowed Binance to continue operations under enhanced compliance oversight.
Source: https://cryptobriefing.com/cz-us-investment-binance-fine/