Binance Founder Changpeng Zhao Questions Lack of Announced Charges at Bank of America

Binance founder Changpeng Zhao questioned the lack of announced criminal charges against Bank of America executives after U.S. agencies announced enforcement actions totaling more than $1.21 billion, contrasting them with his own prison sentence. On Oct. 14, Zhao wrote on X, “No one was even charged.” He also called the matter “water under the bridge” and urged people to move on. The actions announced Oct. 13 included civil penalties against the bank and a separate sanctions settlement. The Financial Crimes Enforcement Network (FinCEN) assessed a $1.2 billion civil penalty. The Office of the Comptroller of the Currency (OCC) imposed a $750 million penalty, the largest in its history. FinCEN credited the OCC penalty against its assessment, leaving $450 million due to FinCEN.

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