In the early hours of last night, the dispute between Binance and the US Department of Justice came to an end. Here are some of the key points summarized by the author.

1. CZ, who has been in charge of Binance for six and a half years, abdicated and is not allowed to participate in Binance operations within three years. His successor is Deng Yongqiang, the former GLOBAL HEAD OF REGIONAL MARKETS of Binance.

2. The settlement agreement also includes the CFTC, but the SEC did not attend, so it is possible that the civil lawsuit between Binance and the SEC has not been settled.

3. The accusation against Binance is mainly that it allows illegal acts to be traded freely and does not submit any suspicious transaction activity reports.

4. CZ knew about the US investigation at the end of 2020. The UAE, where CZ lives, has no extradition treaty with the United States, but CZ still voluntarily chose to face the verdict.

5. CZ proudly announced: The US Department of Justice did not accuse Binance of misappropriation of funds, nor did it accuse Binance of participating in market manipulation, and Binance's funds are SAFU. Wu Menkan Jinqun plus v: DTOT147

6. CZ can personally provide Binance with necessary consultation within the framework of judicial resolution in the future, and may make some passive investments in (blockchain/web3/Defi/AI/biotechnology). CZ said he was happy to have more time to study Defi.

7. Reuters learned that Binance reached an agreement with the US Department of Justice, in which Binance will pay $1.81 billion within 15 months and confiscate $2.51 billion. CZ personally needs to pay $50 million.

8. The settlement amount between Binance and the Financial Crimes Enforcement Agency is $3.4 billion, and the settlement amount of the Office of Foreign Assets Control is $968 million, which is the largest amount of funds in US history.