Bitcoin falls below $36.5k; BNB tanks 9% after Changpeng Zhao pleads guilty

Crypto tokens traded lower today after the US Department of Justice imposed a fine of over $4 billion on Binance, making it one of the largest penalties the D.O.J. has ever obtained from a corporate defendant in a criminal matter. Meanwhile, Changpeng Zhao, the founder and CEO of Binance, resigned from his position and pleaded guilty to violating US anti-money laundering laws. The fallout from the settlement marks another significant blow to the cryptocurrency industry. Following the Binance news, the global cryptocurrency market cap declined by 2.54% to around $1.38 trillion in the last 24 hours. At 10.58 a.m., BTC was trading 2.54% lower at $36,412, while BNB fell 9.2% at $236.

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