Binance (BNB) founder and ex-CEO Changpeng Zhao (CZ) will spend four months in jail after Judge Richard Jones sentenced him on Tuesday.
Judge Richard Jones sentences Changpeng Zhao to four months in prison. CZ's team didn't ask for house arrest, just proposed it as an option. Actual ask is for probation. BNB and the crypto market could recover following CZ's short sentence. Binance founder and ex-CEO Changpeng Zhao will spend four months in jail after Judge Richard Jones sentenced him on Tuesday. CZ earlier pleaded to one count of violating the Bank Secrecy Act in November 2023.
Also read: Binance founder Changpeng Zhao could face three-year jail time When the hearing got underway, Judge Richard Jones disagreed with the DoJ's request to extend the sentence to three years, stating, There's no evidence that the defendant was ever informed of illegal activity, according to reporter Nikhilesh De. In response, the DoJ argued that CZ was aware of illicit activity. DOJ attorney: CZ deliberately tried to tap U.S. financial system.
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