The United States Department of Justice has finally made an official statement on the charges against the largest crypto exchange – Binance and its former CEO – Changpeng Zhao. The US government reached a deal with both parties earlier today, with CZ pleading guilty to charges first, followed by the crypto firm. Moreover, the deal has also seen one of the heaviest penalties imposed on a crypto entity, with Binance having to pay over $4 billion in total. Moreover, even CZ was required to pay a fine of $50 million. This will be directed to the Commodity Futures Trading Commission (CFTC) to absolve its charges against the exchange and its founder.