Binance founder’s sentencing hearing
The Verge -

Binance founder Changpeng Zhao will find out today how much jail time he’ll serve for breaking US money laundering laws — if he serves any at all. Prosecutors have requested three years of prison time, double the sentencing guideline of 18 months, because the “scope and ramifications of Zhao’s misconduct were massive,” they wrote in their sentencing memo. Zhao’s lawyers, in their own sentencing memo, said that Zhao deserved no jail time, as “no defendant in a remotely similar BSA [Bank Secrecy...

In related news

  • Binance founder sentenced to four months for money laundering

    Changpeng Zhao pleaded guilty and stepped down as CEO of the crypto trading company last yearChangpeng Zhao, the former head of the world’s largest cryptocurrency trading company, was sentenced to four months in jail on Tuesday in a Seattle courtroom. Zhao pleaded guilty late last year to money-laundering violations and stepped down as CEO of Binance. The company itself was fined $4.3bn. Zhao was fined $50m last year.Judge Richard Jones told Zhao that there were a number of mitigating factors in...
  • Binance Founder Changpeng Zhao Sentenced to 4 Months in Prison

    Changpeng Zhao, the founder of cryptocurrency exchange Binance, was sentenced to four months in prison on Tuesday (April 30). The sentencing came after Zhao pleaded guilty to charges of enabling money laundering at Binance, CNBC reported Tuesday. The verdict was delivered in a federal court in Seattle by U.S. District Judge Richard Jones, who told Zhao, “You had […]
  • Binance founder Changpeng Zhao sentenced to four months in prison

    A federal judge has sentenced Binance founder Changpeng Zhao (often known as “CZ”) to four months in prison, as first reported by The New York Times. Prosecutors had recommended three years. Zhao pleaded guilty in November to violating the Bank Secrecy Act by failing to set up an anti-money-laundering program. The DOJ accused Zhao of allowing criminal activity to flourish on the crypto exchange. “Binance turned a blind eye to its legal obligations in the pursuit of profit. Its willful failures...