Public announcements from Binance or major financial news outlets

Judge Sentences Binance's Zhao to 4 Months, Rejects DOJ's 3-Year Request

Apr 30, 2024, 11:00 AM

Changpeng Zhao, the founder of Binance, has been sentenced to 4 months in prison by Judge Richard Jones in a Seattle court, significantly less than the 3 years requested by the DOJ. Zhao had previously pleaded guilty to charges related to violating anti-money laundering laws and agreed to pay $50 million in fines. The DOJ's request for a harsher sentence was rejected due to lack of evidence that Zhao was aware of illegal activities at Binance. Over 160 letters from Zhao's friends, family, and colleagues were submitted in his defense, highlighting his character and impact on the cryptocurrency industry.