#Binance55thProject(IO) #Binance55thProject(IO) $BTC Binance's founder, Changpeng Zhao, started serving a four-month prison term in California for not setting up proper ID checks at the crypto exchange. He's a Canadian citizen and admitted breaking banking rules last November. Despite facing up to three years, he got a shorter sentence. His wealth, estimated at $36.5 billion, makes him the richest person to go to jail in the U.S. He also got a $50 million fine and stepped down as Binance's CEO. Binance settled charges with $4.3 billion in fines and has to follow rules more closely now. Zhao will be at Lompac II prison, a low-security place where inmates work on a farm. This prison is safer than where another crypto CEO, Sam Bankman-Fried, is serving a 25-year term in New York.