Press releases from Binance or reports from regulatory bodies

Binance Founder Zhao Gets 4 Months in Seattle Court After Plea Deal

Apr 30, 2024, 07:10 PM

Changpeng Zhao, the founder of Binance, the world's largest cryptocurrency exchange, was sentenced to four months in prison for money laundering violations by Judge Richard Jones in a federal court in Seattle. Despite the prosecution's request for a three-year sentence, the judge decided on a significantly shorter term following Zhao's plea deal. Zhao had previously pleaded guilty and agreed to pay a $50 million fine. This case marks a significant legal conclusion for Zhao, who has faced extensive legal scrutiny over the operations of Binance.