Attention everyone!!! Binance CEO expects to return to cryptocurrency in October

Changpeng Zhao (CZ), founder of Binance exchange, has reportedly entered a federal prison in California, USA. Last November, Zhao Changpeng reached a settlement agreement with the US government to resolve the multi-year investigation against Binance. As one of the conditions of the settlement, Zhao Changpeng resigned as CEO of Binance. Although he no longer directly manages the company, he still holds about 90% of the shares and is still the actual controller of Binance.

CZ was accused of failing to implement an effective anti-money laundering program as required by the Bank Secrecy Act, and allowing Binance to process transactions involving proceeds from illegal activities. The US government required Binance to pay $4.3 billion in fines and forfeitures, while Zhao Changpeng personally agreed to pay a $50 million fine.

In April this year, Zhao Changpeng was sentenced to four months in prison for pleading guilty to money laundering charges. The sentence was far less than the three-year prison sentence requested by federal prosecutors. Before the sentencing, Zhao Changpeng told the judge that it was his fault for failing to implement an adequate anti-money laundering program and that he deeply regretted it.

Finally, according to the latest news from CNBC, Zhao Changpeng has reported to a low-security federal prison in California, and his defense law firm (Latham & Watkins) has also confirmed the news. In other words, it is expected that CZ will be released from prison in October this year and re-enter the cryptocurrency industry. #Mt.Gox将启动偿还计划 #美国PCE数据将公布 #VanEck提交首个SolanaETF #币安合约锦标赛 #以太坊ETF批准预期