Binance founder Changpeng “CZ” Zhao posted a $175 million bond with the condition he return to the U.S. two weeks before his sentencing.

United States government agencies spent months, sometimes years, investigating Binance in the lead-up to unsealing an indictment against the exchange.

Cryptocurrencies flash mixed signals as market participants digest the details of CZ’s guilty plea and the U.S. Department of Justice’s $4.3 billion settlement with Binance.

Brian Armstrong reflected on the announcement of criminal charges against Binance, stating that Coinbase’s decision to get licenses was correct.

Officials with the U.S. Justice Department, Treasury, and CFTC alleged Binance “lacked basic safeguards” to protect against sanctions and Changpeng Zhao committed criminal acts.

The house that CZ built will now be helmed by its head of regional markets, as the U.S. Department of Justice has barred the former CEO from his position.

The U.S. Justice Department, Treasury and CFTC reportedly plan to announce settlements for many of the criminal and civil cases against Binance and CZ on Nov. 21.

Officials reported the seizure was tied to an organization responsible for “pig butchering” romance scams.

Changpeng Zhao reportedly plans to plead guilty to violating U.S. Anti-Money Laundering requirements and step down as the CEO of the Binance crypto exchange.

The latest Cointelegraph Report explains everything readers need to know about a potential spot Bitcoin ETF approval in the U.S., its impact on the market, and its significance for the crypto industry.