The founder of "Binance", Changpeng Zhao, is sentenced to prison and a hefty fine

2024-04-30 21:24:00Kosova&Bota SHKRUAR NGA REDAKSIA VOX
The founder of "Binance", Changpeng Zhao, is sentenced to prison and a
The founder of "Binance" Changpeng Zhao during a meeting with Prime Minister Edi Rama some time ago

Changpeng Zhao, the founder of Binance, has been sentenced to prison for violating US anti-money laundering laws.

Prosecutors asked for a 4-year sentence, citing the "massive" consequences of his actions, but the judge decided to sentence him to 4 months in prison.

Zhao pleaded guilty and asked not to serve prison time because, he says, of his excessive cooperation with investigators.

He has already agreed to a hefty fine of $4.3 billion and a personal penalty of $50 million.

The 4-month sentence marks a significant development in the cryptocurrency industry, potentially affecting Binance's operations and raising questions about the company's future.


Video