Binance chief will admit violating US laws as part of $4 billion deal to resolve probe

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

NEW YORK (Reuters) - Binance Holdings chief Changpeng Zhao will admit violating U.S. laws as part of a deal to resolve a U.S. probe into illicit finance breaches, according to a source familiar with matter.

The deal between a number of U.S. agencies and the world's largest crypto exchange will also involve charges against Binance's former compliance chief Samuel Lim, the source said.