“I am indeed guilty of the charges brought against me,” responded Changpeng Zhao to the court’s questions, the former head and founder of Binance. Moreover, he emphasized that his actions were aimed at maintaining the platform’s operations under strict regulation. As Zhao stated, “We tried to comply with the laws, but in some cases, we had to make compromises.”

He also added that admitting guilt is a step towards resolving the situation with regulators, which does not mean an unconditional acceptance of all charges.