Binance founder Changpeng Zhao said he chose to travel to the United States and plead guilty because he did not want to evade his legal problems, according to an October 26 BlockBeats account of his interview with PIVOT.
Zhao also criticized what he sees as uneven enforcement, comparing Binance’s treatment with Bank of America penalties. The comparison reflects his assessment of the two cases.
Official enforcement context
The Treasury’s November 21, 2023 Binance release describes anti-money-laundering and sanctions violations. It says Binance admitted failing to maintain an effective anti-money-laundering program and failed to report suspicious transactions.
For Bank of America, the Treasury’s October 13, 2026 release lists a $1.2 billion FinCEN penalty, a $750 million OCC civil penalty and an $11.6 million OFAC settlement. The $1.2 billion figure cited in Zhao’s comparison covers the FinCEN component.
Source: BlockBeats, 2026-10-26 04:22:54 UTC.