Former Binance Boss Changpeng Zhao Sentenced to 4 Months in Jail

On Tuesday, April 30, 2024, Changpeng Zhao (CZ), formerly the CEO of Binance, was sentenced in a Seattle courtroom for his compliance failures at the cryptocurrency exchange. The sentencing was first covered by Nikhilesh De and Danny Nelson of Coindesk, who reported directly from the courthouse. Per Nikhilesh De’s X thread, the proceedings began with the judge hearing arguments from the prosecution and several defense attorneys prior to delivering the sentence. CZ’s defense pointed out that instead of remaining in the UAE, the former Binance leader voluntarily traveled to the United States to take responsibility. After listening to both the prosecution and defense, the judge declared that “he won’t follow 5 month probation recommendation” from the DOJ. According to the reporter, CZ received a sentence of four months in prison.

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