Changpeng Zhao (CZ) stepped down as CEO of the cryptocurrency exchange Binance after it was fined $4.3 billion by US authorities for failing to comply with anti-money laundering (AML) and sanctions laws. The settlement also requires Binance to exit the US market and implement tough compliance requirements in the coming years. The US Department of Justice (DOJ) accused Binance of operating as a “money laundering haven” for criminals, including drug traffickers and terrorists. The agency also alleged that Binance turned a blind eye to potential illegal activity on its platform, and failed to implement adequate AML and sanctions compliance measures.