Binance CEO Changpeng Zhao, Other Exchange Leaders at Risk of Brazil Indictment

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By Daniel Carvalho, Cristiane Lucchesi, and Mariana Durao

October 10, 2023 at 6:04 PM UTC

Updated on

October 10, 2023 at 7:54 PM UTC

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In the latest blow to Binance’s global ambitions, a Brazilian congressional committee has recommended the indictment of four of the company’s senior leaders, including its founder and CEO Changpeng Zhao.

The committee, which had been conducting a probe into crypto-related ponzi schemes in Brazil, can only make suggestions. Brazilian police will decide whether to proceed with actual indictments.