US EditionBinance founder Changpeng Zhao sentenced to 4 months for allowing money laundering
- Changpeng Zhao, former Binance CEO, received a four-month prison sentence for money laundering violations at the top cryptocurrency exchange, becoming the second major crypto leader imprisoned.
- Despite the prison sentence, Changpeng Zhao's wealth is expected to remain intact and grow, as stated by reports in a Seattle court.
- The sentence of four months issued to Zhao was lesser than the sought-after three years by federal prosecutors, following his deal to resolve investigations into Binance.
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US court jails Binance founder, Changpeng Zhao
A United States, US, District court, on Tuesday, sentenced the founder and former Binance CEO, Changpeng Zhao to four months in prison. The court judge, Richard Jones said Zhao, whose nickname is CZ, has also satisfied the requirement of him to pay $50 million in fines. The judge also won’t impose five months of probation as was recommended by the probation officer, Mail Online reports. In November 2023, Zhao pleaded guilty to a money laundering…
·Nigeria
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Leaning Left31Leaning Right18Center28Last UpdatedBias Distribution40% Left
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- 40% of the sources lean Left
40% Left
L 40%
C 36%
R 23%
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