This is Why Binance CEO CZ Resigned

Binance CEO Changpeng Zhao has stepped down as part of a $4 billion deal with the US Department of Justice and CFTC

Despite stepping down, Changpeng Zhao will remain the majority shareholder of Binance

The $4 billion deal requires Binance to pay the DOJ and CFTC, covering civil settlement claims

Additionally, the SEC has filed a case against Binance for operating as an unregistered exchange and other charges related to crypto derivatives

Since 2018, Binance has been under investigation for charges including money laundering, conspiracy, and sanctions violations

The recent developments further complicate the regulatory challenges faced by the exchange.