Binance’s former chief Changpeng Zhao received a four-month prison term for breaching US anti-money laundering regulations at one of the world’s largest cryptocurrency exchanges founded in 2017. This came after he admitted guilt over his actions before US District Judge Richard Jones in Seattle. According to crypto market data firm CCData, Binance emerged as the leading cryptocurrency exchange globally in 2023, boasting an impressive $18.1 trillion in trading volume.