Co-founder of cryptocurrency exchange Binance He Yi told an audience in Dubai that disgraced CEO Changpeng Zhao isn’t so bad off in the U.S., where he faced sentencing on a felony charge at the end of the month.
The mother of CZ’s children sought to dispel concerns about the former CEO’s fate as he awaits sentencing in the United States.
Former Binance CEO Changpeng Zhao, often known as CZ, is in a “positive situation,” according to the cryptocurrency exchange’s co-founder He Yi. CZ is set for sentencing in the United States on one felony charge on April 30. Yi “dispelled concerns over the regulatory status” at the Binance Chinese Meetup held on the sideline of the Token2049 conference in Dubai, according to the company’s newsfeed. The post did not quote her directly, but
“CZ's current standing in the US is largely peaceful and past regulatory pressures have been internally anticipated. She believes the existing situation to be the most optimal outcome given the circumstances.”of up to 10 years. The sentence recommended in the guidelines is 12 to 18 months. The single charge resulted from a settlement reached in November that also required the company to forfeit $4.3 billion. That settlement forced CZ to resign as Binance CEO.
to Dubai, where he lives, because of a medical situation involving one of his children. In response, the U.S. Attorney’s OfficeBinance has been distancing itself from CZ since his resignation as CEO. He was replaced by Richard Teng, the former Binance head of regional markets outside the United States. Teng hasin Dubai. As a licensing condition, CZ was reportedly required to give up voting rights in the local entity, Binance FZE, although Binance has declined to comment on that claim.
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