Breaking news:
On May 1, CZ said on the X platform that he was grateful for everyone's concern and support, whether it was writing letters, expressing support on X or in any other form. These are all very meaningful to me and make me strong. I will serve my sentence, end this stage, and focus on the next chapter of my life (education). I will continue to be a passive investor (and holder) in cryptocurrencies. Our industry has entered a new stage, and compliance is very important. The silver lining of the whole process is that Binance has been closely watched. All funds are safe. Protect users.
Earlier news, the judge in the CZ case rejected the 36-month sentence recommended by the Ministry of Justice and announced a sentence of 4 months.
The trial judge said that he read all 161 letters submitted by CZ's relatives and friends because "it is important to know who you are." He also mentioned: "I have never seen so many letters, not just from family, but also from people who have known you for a long time."
The judge pointed out that these letters portray a person driven by motivation, passion and determination. "You risked your entire net worth to make Binance a success," the judge said. "The background letter mentions Binance's rapid rise...your hard work and vision," Binance handles $500 million in daily trading volume. "This is remarkable," the judge said, adding that CZ took on "extraordinary responsibility."
He also mentioned that the letters clearly showed that CZ was a man dedicated to his family. The judge also cited the example of Binance's philanthropy.
CZ is an amazing man, like the man behind the efforts!
