The government dealt a massive blow to the world’s largest cryptocurrency exchange, Binance, as its founder, Changpeng Zhao, pleaded guilty to a felony charge Tuesday related to his failure to prevent money laundering on his platform.

Binance also agreed to a roughly $4 billion settlement with the U.S. over violations of the Bank Secrecy Act and apparent breaches of sanctions programs, including failure to put suspicious transaction reporting programs into place. Zhao has stepped down as the company’s chief executive.

Over the summer, the company was accused of operating as an unregistered securities exchange and violating several securities laws in a lawsuit from regulators. That case was similar to practices uncovered after the collapse of FTX, the second largest cryptocurrency exchange, last year.

“Binance became the world’s largest cryptocurrency exchange partly because of the crimes it committed — now it is paying one of the largest corporate penalties in U.S. history,” said Attorney General Merrick B. Garland.