Changpeng zhao articles
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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 […]
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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...
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Binance Founder Changpeng Zhao Gets Four Months in Prison
Binance founder Changpeng Zhao was ordered to spend four months in prison for failures that allowed cybercriminals and terrorist groups to freely trade on the world’s largest cryptocurrency exchange.