Binance Founder Changpeng Zhao Sentenced to 4 Months in Prison
PYMNTS.com - 2024-04-30T23:34:19.000Z

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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- 2024-04-30T20:55:53.000Z
Binance founder Changpeng Zhao sentenced to four months in prison
Binance founder Changpeng Zhao was sentenced to four months in prison for failing to establish adequate anti-money laundering protections. Zhao, once the head of the largest crypto exchange in the world, pleaded guilty in November 2023. Judge Richard Jones says that Zhao prioritized “Binance’s growth and profits over compliance with US laws and regulations.” While Jones doesn’t think Zhao is likely to reoffend, the scale of the crime is notable. "Binance “violated US law on an unprecedented...
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- 2024-04-30T18:59:21.490Z
Binance crypto boss Changpeng Zhao sentenced to 4 months in prison
Changpeng Zhao, head of world's largest crypto platform, pleaded guilty to breaking US money laundering laws.
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- 2024-04-30T19:18:02.000Z

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Binance founder Changpeng Zhao sentenced to four months in prison

Binance founder Changpeng Zhao sentenced to four months in prison

Binance crypto boss Changpeng Zhao sentenced to 4 months in prison