Binance’s former CEO CZ sentences to 4 months in jail, not 36 months 

Changpeng Zhao (CZ) will now face only 4 months of jail sentence over the violation of US money laundering measures.

Changpeng Zhao (CZ) is former CEO & co-founder of Binance crypto exchange. For the last four years, the Binance crypto platform has been the top choice among newbies & experienced crypto traders. In 2023, CZ faced huge trouble, as the US DoJ sued Binance over violating money laundering measures.

As per official reports, Zhao sentenced to four months in prison by Judge Richard Jones in a hearing held on April 30 in the U.S. District Court for the Western District of Washington.

Binance founder CZ sentenced to 4 months in prison ! pic.twitter.com/VMWCp49OOH

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— BITCOIN EXPERT INDIA (@Btcexpertindia) May 1, 2024

Now  CZ has been free to travel in the United States on a $175 million bond. This is very good news for him, as he is now free to go to Dubai & meet his family.

On this short-term jail sentence punishment,  CZ shared his response on X (formerly Twitter) and thanked crypto people for their support in that tough time.

Furthermore, he said that he will start his next phase of life to push education.

On the crypto sector, he said that he will always remain bullish on cryptocurrencies and also added that he is happy that the crypto sector is now in another phase where compliance is a super important thing.

I would like to thank everyone for your care and support, be it writing letters, showing support on X, or in any other form. They all mean a lot to me and keep me strong. I will do my time, conclude this phase and focus on the next chapter of my life (education).

I will remain a…

— CZ BNB (@cz_binance) May 1, 2024

It is worth it to know that a week ago the US DOJ submitted a request to the Federal court to sentence CZ for 3 years so that people always remain aware of anti money laundering (AML) measures.

https://t.co/orDNjwxseY#CZ Could Face 3-Year Prison Term, #US DOJ Urges The Court

— Bitcoinik (@Bitcoinikdotcom) April 24, 2024

BNB coin price action

The current trade price of Binance Coin (BNB) is $573 & this trade price is 3% down over the last 24 hours, as a part of the usual market downfall.

#BNB pic.twitter.com/GAHZMuI5Ze

— Bitcoinik (@Bitcoinikdotcom) May 1, 2024

Read also: Saylor suggests companies adopt Bitcoin to increase company valuation 

Binance’s former CEO CZ sentences to 4 months in jail, not 36 months 

 

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