Changpeng Zhao (CZ) now faces just four months in prison for violating US money laundering measures.
Changpeng Zhao (CZ) is the former CEO and co-founder of Binance crypto exchange. For the past four years, the Binance crypto platform has been the top choice among newbies and experienced crypto traders. In 2023, CZ faced major problems when the US Department of Justice took Binance to court for violating money laundering measures.
According to official reports, Zhao was sentenced to four months in prison by Judge Richard Jones during an April 30 hearing in the U.S. District Court for the Western District of Washington.
Now CZ is free to travel across the United States on a $175 million bond. This is very good news for him as he is now free to go to Dubai and meet his family.
To this short prison sentence, CZ shared his reaction on X (formerly Twitter) and thanked crypto people for their support during that difficult time.
Moreover, he said that he will start his next phase of life to promote education.
On the crypto sector, he said that he will always remain optimistic about cryptocurrencies and added that he is happy that the crypto sector is now in a new phase where compliance is of great importance.
It is worth knowing that a week ago the US DOJ filed a request in federal court to sentence CZ for three years so that people always stay informed about anti-money laundering (AML) measures.
BNB coin price promotion
The current trading price of Binance Coin (BNB) is $573 and this trading price is down 3% over the last 24 hours, part of the usual market decline.
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