Investors pulled about $956 million from crypto exchange Binance over the past 24 hours, after its chief, Changpeng Zhao, stepped down and faced prison time after pleading guilty to settle a U.S. illicit finance probe. The deal raises questions over the future of the world's largest crypto exchange and marks another blow for an industry beset by scandals. Zhao has been replaced by Richard Teng, a senior Binance executive.
It remained unclear how much jail time Zhao would serve and how much influence he could continue to exert on Binance
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