BREAKING: Binance. CZ to step down & Binance to pay $4.3 billion in fines 🤯; Worldcoin's fate tied to Altman's future 🧿

FinTech is Eating the World, 21 October

Hey Everyone,

Happy Tuesday! Today is pretty wild as we’re looking at Binance which just got hit by $4.3B in fines after admitting to AML violations and sanctions breaches (a closer look at this craziness with the details, data + what it means for the industry & what’s next) and Worldcoin whose fate is tied to Sam Altman’s future (the OpenAI saga goes beyond just AI!). Let’s jump straight into the intriguing stuff 🌶

BREAKING: Binance. CZ to step down & Binance to pay $4.3 billion in fines 🤯

The BIG news 🗞️ Crypto exchange giant Binance and its founder Changpeng Zhao aka CZ have agreed to pay over $4 billion in fines after admitting to anti-money laundering violations and sanctions breaches.

Zhao will step down as CEO immediately and plead guilty to charges related to the company's failure to prevent unlawful transactions.

Forbes did it again… It’s the Jim Cramer of Media for a reason:

But let’s get serious here and take a deeper dive into this, look at all the data, and see why it’s a pivotal moment for the industry.