The Chinese-Canadian CEO of the world’s largest crypto-trading platform will also agree to pay fines totaling $4.3 billion over anti-money-laundering and sanctions crimes, an amount that includes settlements with regulators over civil allegations, The Wall Street Journal reported, citing people familiar with the matter and court records unsealed Tuesday. (The Wall Street Journal)

Talking point: It’s yet another spectacular fall from grace for a crypto kingpin, though CZ, as he’s popularly known, was for a time the biggest of them all. Binance gained market share after the collapse of rival FTX last year, but failed to maintain that lead as it was dogged by legal problems and a persistent crypto bear market. The plea deal would potentially leave a path for the company to continue operating under different leadership while Zhao retains a majority stake, according to the Journal. Binance remains under investigation by the Ontario Securities Commission for possible compliance violations while the platform, which has since exited Canada, was operating in the country.