Changpeng Zhao, billionaire and chief executive officer of Binance Holdings Ltd., speaks during a session at the Web Summit in Lisbon, Portugal, on Wednesday, Nov. 2, 2022.Zed Jameson | Bloomberg | Getty ImagesCrypto exchange Binance is laying off employees in response to an ongoing Justice Department probe that is likely to end with a consent decree or settlement, according to a current employee who is familiar with the company’s plans.The cuts will eliminate 1,500 to 3,000 of Binance’s global workforce, this person told CNBC, and will take place through the end of the year. The Wall Street Journal previously reported on Friday that 1,000 employees have already been laid off, and those layoffs are part of the total planned, the source told CNBC. This person asked to remain anonymous because they are not authorized to talk to the press about internal matters.related investing news The Justice Department probe will likely reshape the company fundamentally, the employee told CNBC. If Binance opts to settle the DOJ allegations, it could result in a multi-billion dollar payment. Reuters has reported that federal prosecutors have been weighing anti-money laundering violations and sanctions evasion charges, allegations that would make it difficult for Binance or founder Changpeng Zhao to continue to get li …
