Binance Founder Changpeng Zhao Begins Four-Month Prison Sentence in California

May 31, 2024, 09:17 PM

Changpeng Zhao, founder and former CEO of Binance, has begun serving a four-month prison sentence at a low-security federal prison in Lompoc, California. Zhao, often referred to as CZ, was sentenced after pleading guilty to charges of helping launder money. According to CNBC, he is expected to be released sometime in September. This marks a significant development in the ongoing legal issues surrounding the collapsed cryptocurrency exchange.