Zhao Changpeng's $1.35 billion fine paid to the CFTC is the largest fine in the agency's history

2023-11-22 09:48:32

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ChainCatcher news, CFTC Chairman Rostin Behnam stated at a press conference on Tuesday that Binance's actions "undermine the foundation of a secure and robust financial market," while the CFTC imposed a $1.35 billion trading fee on them. This is the largest fine ever levied by the regulatory agency.

Rostin Behnam mentioned that internal conversations among Binance's CCO and others demonstrate that Binance was aware its platform was being used to facilitate criminal activities, including terrorism financing, but chose to turn a blind eye in the name of profit. "Binance and its leaders attempted to deceive and indoctrinate their employees and customers, creating a cult-like following predicated on evading their own compliance controls to maximize company profits above all else."

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