Breaking: Changpeng ‘CZ’ Zhao Sentenced To 4 Months In Prison

The sentencing hearing of Binance co-founder and former CEO Changpeng ‘CZ’ Zhao has just wrapped up with with Judge Richard Jones sentencing him to 4 months in prison

Changpeng ‘CZ’ Zhao Gets Lenient Sentence

According to the live account from the Court, Judge Richard Jones revealed before the sentencing that he does not agree with the 3 years sentence proposition from the US DOJ. The presiding Judge over the case said he rather aligns with the 10 – 16 months sentencing recommended by the Probation Office.

Surprisingly, he handed down a 4-month sentence.

Changpeng ‘CZ’ Zhao pleaded guilty to a one-count charge of violating the Bank Secrecy Act (BSA). The Binance Founder has gained support from the broader crypto community with family and friends sending him letters of support.

This hearing has a significant impact on the survival of major Binance entities like the France outpost where CZ holds a 100% stake. The conviction status of CZ may strain the exchange’s bid for a European License under Markets in Crypto Asset (MiCA) rules by 2025.

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