Changpeng Zhao (CZ)

Changpeng Zhao (CZ), the founder and former CEO of Binance, has been involved in multiple legal and regulatory controversies, particularly related to U.S. authorities. As of 2023-2024, he has faced significant charges from U.S. regulators, including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The SEC filed a complaint in 2023 alleging that Zhao and Binance operated unregistered securities exchanges, broker-dealers, and clearing agencies, and engaged in securities law violations, including misleading investors and controlling the Binance.US platform behind the scenes (SEC.gov). The SEC also accused Binance and Zhao of commingling customer assets and diverting billions of dollars, with allegations of manipulative trading and securities law violations dating back to 2017 (SEC.gov, CourtListener). Additionally, Zhao has been charged with violating U.S. sanctions and the Bank Secrecy Act (BSA). In November 2023, Zhao entered a guilty plea to a federal charge of willful failure to maintain an effective anti-money laundering (AML) program, which resulted in Binance processing transactions involving illicit funds and violating U.S. sanctions, including transactions with Iran, Cuba, Syria, and Ukraine. The violations are estimated to involve over $898 million in transactions, and Binance agreed to a combined penalty exceeding $4.3 billion (FactCheck, FactCheck). Zhao also pleaded guilty to conspiracy related to operating an unlicensed money transmitting business and violating U.S. sanctions laws, with a recommended fine of $50 million (John Reed Stark). There are no publicly reported allegations of corruption, bribery, or convictions against Zhao in the context of scandals or misconduct in the UAE. The primary issues involve regulatory violations and legal charges related to Binance's operations, especially in the U.S., with ongoing legal proceedings and plea agreements as of 2026 (SEC.gov, CourtListener).