LIVEUNITED STATES AGAINST BINANCE: PROSECUTORS ASK FOR 3 YEARS IN PRISON AGAINST CZ
CZ soon decided on his fate. Even several months later, the cryptosphere is still in shock from the record fine that the Department of Justice (DoJ) imposed on Binance: a total of $4.3 billion! Even if the crypto-exchange agreed to pay this heavy penalty, its founder and former CEO Changpeng “CZ” Zhao also had to resign. The latter has even been forced to stay in the United States since November 2023, while awaiting his trial, which is now getting closer.
SUSPENSION OR 36 MONTHS IN PRISON FOR THE EX-EXECUTIVE OF BINANCE
Nothing worked, despite billions of dollars offered as bail, the United States did not want to let Changpeng “CZ” Zhao leave their borders even for one day. His judgment, initially scheduled for February, was even postponed until Tuesday April 30, 2024, forcing him to wait 2 more months on US soil.
And as The Block reports in particular, the Department of Justice prosecutors would like to keep CZ much longer in Uncle Sam's jails. They wish to “impose a sentence of 36 months of imprisonment, above the guidelines” on ex-executive of Binance. Indeed, until now there was talk of a maximum sentence of 18 months in prison.
CHANGPENG ZHAO APOLOGIZES AND RECEIVES 161 LETTERS OF SUPPORT
CZ has already consented to his guilt, as early as November 2023, for violations of anti-money laundering legislation and violations of compliance with US sanctions against other countries. But the former boss of Binance apologized again on April 23, in a letter addressed to Judge Richard A. Jones of the Western District Court of Washington.
An attitude of Changpeng Zhao which in any case changes us from that of Sam Bankma-Fried (SBF) of FTX, who until the end dared to claim that he was innocent despite the overwhelming evidence.
