The founder of the world's largest cryptocurrency exchange, Binance, has stepped down and agreed to plead guilty to federal money laundering charges in the United States.

The US Justice Department said Binance prioritized its "profits over the safety of the American people" and became the largest crypto exchange "in part because of the crimes it committed."

Sam Fenwick gets reaction to the ruling and more business stories from around the world with Andy Xie, independent economist in Shanghai and

(Picture: Zhao Changpeng, founder and chief executive officer of Binance speaks during an event in Athens, Greece, November 25, 2022. Credit: REUTERS/Costas Baltas/File Photo)