CZ steps down as Binance CEO, pleading guilty to anti money laundering charges

https://inc42.com/buzz/binance-lays-off-1000-employees-globally-including-indian-workforce/

What an absolute shit show https://www.moneycontrol.com/news/technology/fraud-threats-sexual-harassment-zilingos-ankiti-bose-files-fir-against-co-founder-ex-coo-12706929.html

- Durov charged with complicity in child porn distribution, drug offenses, fraud, and money laundering - Judicial investigation involves collaboration between cybercrime and anti-fraud agencies - Custody period extended up to 96 hours until Aug. 28, 2024 - Charges include refusing to cooperate with authorities on lawful interception requests - Case likely to impact discussions on platform responsibility and user privacy at upcoming tech events Source: [Benzinga](https://www.benzinga.com/markets/cryptocurrency/24/08/40558693/telegram-ceo-pavel-durov-faces-12-serious-charges-french-prosecutor-reveals)

- WazirX's parent company Zettai Pte filed moratorium application in Singapore High Court on August 27 - Move seeks 'breathing space' for restructuring liabilities under scheme of arrangement - Application follows $234.9M crypto heist last month, representing 45% of user funds - Company plans to allocate impact of cyberattack pro-rata across users as unsecured creditors - WazirX expects at least six months to consider restructuring plan and work with stakeholders Source: [Inc42](https://inc42.com/buzz/wazirx-files-moratorium-application-before-singapore-court)

Paytm is becoming the Enron of India with so many allegations of fraud and compliance issues.