Binance, the world's largest cryptocurrency exchange, is grappling with a series of serious challenges, including investigations by the U.S. government for alleged money laundering, securities violations, and misleading customers about trading volumes. The SEC has charged the company and its CEO, Zhao Changpeng, with these actions, while the U.S. Department of Justice is examining potential violations of financial sanctions against Russia. Amid these issues, several top Binance executives, including the U.S. CEO and chief legal officer, have resigned due to internal conflicts over Zhao's leadership, with calls for him to step down. Zhao is currently residing in the United Arab Emirates, which has no extradition treaty with the U.S. Binance's business performance has suffered, with a significant drop in its global and U.S. market share, leading to layoffs and financial firms withdrawing assets as a precaution.

Visit our official English blog to read more about "Binance in Crisis: Regulatory Probes, Executive Exodus, and Declining Market Share"