Changpeng Zhao pleaded guilty to violating US anti-money laundering laws and agreed to step down as Binance CEO. Photo: David Ryder / GETTY IMAGES NORTH AMERICA/Getty Images via AFP/Fileboss Changpeng Zhao, who will be sentenced in the United States later Tuesday for money laundering, perfected the humble executive look.
It was vital to cement the myth of a boy who came from hardship in China and once flipped burgers for a living in Canada -- before making a fortune still estimated in the tens of billions. Zhao's early life in China was scarred by hardship when his parents were sent to the countryside for a dose of peasant reality -- a common punishment for those suspected of having capitalist sympathies during the Cultural Revolution of the 1960s and 1970s.
This instilled"drive, grit, and initiative" into the young man and helped to create a"crypto leader", the Binance blog said.
Source: Digital Coin News (digitalcoinnews.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US prosecutors want Binance founder jailed for 36 monthsChangpeng Zhao should serve 36 months in prison after pleading guilty to violating money laundering laws, prosecutors said.
Source: TechCentral - 🏆 8. / 71 Read more »
Former Binance chief could become richest person in US prisonChangpeng Zhao would enter the history books as the richest person ever to do time in US federal lockup since his ownership of Binance, should a Seattle judge agree with prosecutors and order him jailed.
Source: mybroadband - 🏆 11. / 67 Read more »
EFCC, FIRS Fail to Arraign Binance Officials in Tax Evasion, Money Laundering CasesBinance and its two officials - Tigran Gambaryan and Nadeem Anjarwalla - were scheduled to be arraigned before the Federal High Court in Abuja on five counts of money laundering and tax evasion on Thursday.
Source: allafrica - 🏆 1. / 99 Read more »
Binance Stresses Importance of Regulatory Compliance for Future SuccessThe former chief executive of Binance emphasizes the need for regulatory compliance in order to ensure the success of the crypto platform. Binance has already faced legal issues and paid a hefty settlement, and now aims to make compliance a competitive advantage.
Source: brieflyza - 🏆 10. / 68 Read more »
Binance, BankerX form fintech inclusion pact for AfricaThe partnership will focus on crypto-currency use cases and financial literacy, leveraging thought leadership from Binance Academy and BankerX.
Source: ITWeb - 🏆 45. / 51 Read more »
Binance launches partnership with BankerX to drive fintech inclusion & crypto education across AfricaSouth Africa Today, News source, provides breaking news on South Africa, world, Africa, sport, travel and more.
Source: SATodayNews - 🏆 44. / 51 Read more »