Token “CZ” was unofficially listed on Uniswap just hours after Changpeng Zhao pleaded guilty and stepped down as Binance CEO.
Binance chief Changpeng Zhao on Tuesday stepped down and pleaded guilty to breaking US anti-money laundering laws as part of a $4.3 billion settlement with the US Department of Justice. And, although there is no relation to CZ or Binance, a token called “CZ” attracted the attention of many traders, especially those who are interested in shitcoins on Uniswap. Besides “CZ”, another token named “TENG”, referring to CZ’s replacement – Richard Teng, also jumped 14,000% just a few hours after being listed. Obviously, they are most likely crypto scams since these tokens were launched by an anonymous dev.
Changpeng Zhao is said to have pleaded guilty to receive a softer sentence for charges of violating anti-money laundering laws, however, US authorities did not accuse Binance of market manipulation or misuse of customer funds.
The world’s largest cryptocurrency exchange agreed to pay a fine of up to $4.3 billion while CZ could face up to 18 months in prison.