Binance’s 2023 U.S. resolution is the settlement announced by the U.S. Department of Justice on 21 November 2023, in which Binance pleaded guilty and agreed to pay about US$4.3 billion. [1]
Guilty plea and settlement (2023)
On 21 November 2023 the Department of Justice announced that Binance had pleaded guilty and agreed to forfeit US$2,510,650,588 and pay a criminal fine of US$1,805,475,575, a total of US$4,316,126,163, and to accept an independent compliance monitor for three years. [1] Separate resolutions were reached with other U.S. agencies, which the Department described as coordinated. [1] Details of the criminal case against its founder are in United States v. Zhao; the SEC civil case is covered in SEC v. Binance.
U.S. users
In 2019 Binance announced it would block U.S. users and launched the separate Binance.US exchange; the Department of Justice later said Binance nevertheless worked to retain many U.S. VIP users. [1][3]
Leadership change
Changpeng Zhao served as CEO of Binance until November 2023. [1] Richard Teng became CEO on 21 November 2023. [2][3]