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Fintech

US Court Fines Binance $2.7 Billion

A US court has ruled against cryptocurrency exchange Binance and its former CEO Changpeng Zhao, setting fines in a money laundering case. According to the court's order, Zhao will pay the CFTC $150 million and Binance $2.7 billion. The U.S. District Court for the Northern District of Illinois previously approved the settlement and ordered a permanent injunction, a civil monetary penalty, and equitable relief from Zhao and Binance. the CFTC reported. The department's claims were settled at the end of November.

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