Binance’s CEO will admit to breaking US laws as part of a $4 billion settlement to end the investigation

According to a source familiar with the case, Binance Holdings CEO Changpeng Zhao would admit to breaking US laws as part of a settlement to settle a US investigation into illicit money crimes.

According to the source, the agreement between a number of US authorities and the world’s largest crypto exchange will include charges against Binance’s former compliance officer Samuel Lim.

According to another person familiar with the situation, the agreement will involve fines totaling more than $4 billion, including $3.4 billion from the US Treasury’s Financial Crimes Enforcement Network and another $968 million from the Office of Foreign Assets Control.