Justin Sun Stands by Binance Founder Amid Legal Battle

Justin Sun, the founder of Tron blockchain, has recently supported Changpeng Zhao, the founder of the well-known blockchain Binance. In his recent post on the social media forum X, Sun noted that Zhao had a comprehensive impact on the entire blockchain industry. As per him, Zhao made significant contributions to this sector.

在CZ亲朋好友的支持信中，我不仅看到了CZ对于区块链行业的深刻影响，更感受到了区块链行业背后的空前团结与往事的感人肺腑。作为行业守护者，CZ对于行业贡献是无法磨灭的。我衷心祝愿CZ能够平安归来，继续带领行业去探索无限可能。时间会证明一切！

— H.E. Justin Sun 孙宇晨 (@justinsuntron) April 25, 2024

Changpeng Zhao of Binance Pleads Guilty to the Allegations

The Binance founder has been facing some criminal charges in recent months. The reports point out that the allegations took into account the infringement of the requirements concerning money laundering. He also had to quit his position as the chief executive officer of the Binance, back in November last year. In addition to this, the respective circumstances also made him pay up to $50M in fines.

Some reports are claiming that the federal guidelines declare a maximum 18-month imprisonment sentence for Zhao. The Binance CEO has been free within the US jurisdiction on a bond of nearly $175M. Along with these things, CZ filed a guilty plea to admit the criminal charges against him. Additionally, he voiced regret before the impending sentencing date. As per him, he apologizes for his poor decisions while accepting complete responsibility.

With this act of taking complete responsibility and surrendering himself, Zhao hopes to resolve the issue before the court. He also assured the court that he would not do that again and demanded a second chance. In this respect, he pointed toward his unconventional career with a simple life while returning investor funds following failed startups.

Justin Sun Supports Zhao for His Contribution to the Industry and Hopes for His Safe Return

Several people wrote letters of support for Zhao, including Yi He (Binance co-founder) and Justin Sun. Yi He (the wife of CZ) acknowledged the mistakes that Zhao made but also admired his sense of responsibility, integrity, and fairness. She discussed the company’s failed endeavor for FTX rescue in 2022.

Following that event, Zhao reportedly started focusing more on privacy and transparency. Justin Sun asserted that he felt an unprecedented unity with Zhao in the market. He labeled Zhao as the industry’s guardian. He also expressed hope for CZ’s safe return to continue leading the market with new possibilities.