On Tuesday, Changpeng "CZ" Zhao, founder of Binance, the world's largest cryptocurrency exchange, left his Dubai bunker in order to appear in a Seattle federal court, plead guilty to "one count of failure to maintain an effective anti-money-laundering program," and pay a $50 million criminal fine.
Earlier on Tuesday, the DOJ said it was "seizing $9 million worth of Tether" in connection with "an organization that exploited over 70 victims through romance scams and cryptocurrency confidence scams."
This wasn't even the only rough news for crypto. Earlier on Tuesday, the DOJ said it was "seizing $9 million worth of Tether"-the dollar-pegged stablecoin that props up much of the cryptocurrency economy-in connection with "an organization that exploited over 70 victims through romance scams and cryptocurrency confidence scams."
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