The founder and CEO of B plans to step down
and has agreed to plead guilty to a criminal charge
of violating anti money laundering requirements in the United States
. That's according to court documents, they'll also pay
fines totaling more than$4 billion including payments to settle
civil allegations. This comes after a long running probe
by the justice on the company's dealings as part of
a deal. Founder Chang Peng Zhao will be able
to keep his majority ownership in the Cryptocurrency giant but
will no longer serve in an executive role with the
company Zhao will face sentencing at a later date.
It's being reported that Richard Tang, the company's current
head of regional markets is in talks to take over
as the new CEO.