"The head of cryptocurrency exchange Binance pleaded guilty Tuesday to failing to maintain an effective anti-money laundering program. Federal authorities say the company committed a long list of crimes under Changpeng Zhao's leadership. CBS News senior investigative correspondent Catherine Herridge and TechCrunch reporter Jacquelyn Melinek join to unpack the case."
" There are few figures in crypto that have loomed quite as large in the past few years than Changpeng Zhao — better known as CZ — and the company he founded in 2017, Binance."
"Binance and billionaire Changpeng Zhao are expected to plead guilty to money laundering violations as part of a settlement that would ease the intense cloud of legal scrutiny hovering over the world’s largest cryptocurrency exchange, a person familiar with the matter tells CNN."