Clearing up some misconceptions about the Binance deal

This is about Binance.com entirely. Binance.us was not part of this and continues to function in the US.

As part of the deal, Binance.com must exit the US market completely. They haven't allowed US users for the past couple of years anyway. Binance.com will probably never operate in the US again.

CZ plead guilty to criminal charges. The deal stipulates that the maximum sentence he could receive is 18 months. These charges are for anti-money laundering and licensing failures.

The last thing Binance wanted to do was pay a $4.3 billion dollar fine and the last thing CZ wanted to do was become a convicted criminal. But, they likely saw it as the best of bad choices. The US government is far reaching and they would shut them down globally if they didn't comply.

As part of the deal, Binance.com will be heavily monitored going forward. This can be seen as both a good thing and a bad thing for users.