Binance founder, Changpeng Zhao, pled guilty to failing to maintain an anti-money-laundering program. He’s now been sentenced to four months in prison and agreed to pay a $50 million fine. Between Binance’s money laundering and FTX’s fraud scandal, can crypto be trusted now that these bad actors are in jail? Some folks view crypto as a silly, get-rich-quick gambit. Others view blockchains as the future of the internet and computing itself. But we’re learning where there’s potential to change the world, there is also a lot of room for scammers.
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