Founder and former CEO of Binance (CRYPTO: BNB) Changpeng “CZ” Zhao said Tuesday that the Biden administration personally targeted him to set an “example” in cryptocurrency enforcement.
CZ Alleges Biden Administration Was ‘Hostile’
CZ pleaded guilty to violating the Bank Secrecy Act, a law that requires financial institutions to help government agencies detect and prevent money laundering, in 2023. As part of the settlement, he paid a $50 million fine, stepped down as the company’s CEO and subsequently served four months in prison.
During an interview with Fox Business, CZ was asked whether the previous administration had targeted him to set an example. He replied, “I think so, yes.”
The cryptocurrency billionaire said that the Biden administration had declared a “war on crypto,” forcing the industry to operate in a “hostile” …
