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In March this 12 months, U.S regulators sought to ban Binance, alleging it had been working in the state illegally. By November, the trade pleaded guilty to U.S felony expenses of breaking sanctions and revenue-transmitting regulations, agreeing to pay back a $4.3 billion fine. Zhao himself pleaded guilty, agreeing to fork out $50m and phase down as CEO. Teng’s elevation still left the crypto earth in shock.
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