CEO Changpeng Zhao Among Binance Execs Targeted in Brazilian Probe

In a potential setback to Binance, a Brazilian congressional committee has concocted a plan to indict the globally recognized exchange’s CEO, Changpeng Zhao, alongside three other of their finest executives. In reaction to the reports of fraudulent connected Ponzi schemes within Brazil, the committee insists that a litigation should be initiated against Changpeng and his executive colleagues. Its consequence now rest in the palm of the Brazilian police, who administrate the primary requirement for legal writs. In contemplation of the seriousness of the persistence, a 508-page report describing instances of illicit activities in the cryptocurrency field has attributed to the committee’s duties.

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