Binance CEO CZ violations jaw-dropping blow, but crypto will thrive

CZ’s departure from Binance will trigger some short-term volatility in the cryptocurrency market, but crypto will continue to thrive as more institutional money pours in, predicts the CEO of one of the world’s largest independent financial advisory, asset management and fintech organisations.

The bullish prediction from Nigel Green of deVere Group comes as Changpeng Zhao, better known as CZ, the founder of Binance, the largest cryptocurrency exchange in the world, pleaded guilty to money laundering violations on Tuesday and agreed to pay a $50 million fine and step down from his role as the company’s chief executive.