Binance has reached a settlement with US regulators to pay out over $4 billion in fines. 

Binance has settled with US regulators to pay over $4 billion in fines.

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[{"selector":"#anim-1f4466fa-4cca-48ff-a510-5711d045e93c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-28.925033264816047%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] A lawsuit from the CFTC said Binance employees joked about transactions with Hamas.

Binance agrees to pay a hefty $4.3 billion fine in settlement with U.S. regulators.

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Changpeng "CZ" Zhao steps down as CEO, replaced by Richard Teng, amid ongoing legal challenges.

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Binance accused of facilitating transactions for groups like Hamas, the Islamic State, and Al Qaeda.

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[{"selector":"#anim-c8b6cf74-f492-429e-b046-21e9fa1fb4f5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Fines and leadership changes indicate Binance's acknowledgment of past regulatory oversights.

[{"selector":"#anim-b355403c-4c84-47be-afc7-d66a261f2170 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-33.15874989780795%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Despite settlements with various departments, Binance faces a lawsuit from the Securities and Exchange Commission, alleging illegal operations.

[{"selector":"#anim-1e446787-431f-49aa-9967-0fbdcebab549 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Developments emphasize the increasing regulatory scrutiny on cryptocurrency exchanges.

[{"selector":"#anim-ce1fa779-a59d-4345-8dcf-99c3efb58e14 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.287202267403853%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Highlight challenges faced by exchanges in adhering to anti-money laundering and counter-terrorism financing standards.