Sentencing hearing for Zhao Changpeng to begin at 0:00 a.m. on May 1

Changpeng Zhao, former CEO of crypto exchange Binance, could face several years in prison when he is sentenced after pleading guilty on Tuesday to violating U.S. money laundering laws. U.S. prosecutors have told Seattle District Judge Richard Jones that they want Zhao Changpeng's sentence to be twice the maximum 18-month sentence recommended under federal guidelines.

The hearing began at 9 a.m. Pacific Daylight Time on Tuesday (0:00 a.m. Beijing time on May 1). Zhao Changpeng's lawyers requested probation on the grounds that Zhao Changpeng accepted responsibility "unflinchingly" and had already paid a $50 million criminal fine. They also said that Zhao Changpeng had never committed a crime before and that no defendant in a similar case had been imprisoned. #BTC #ETH