🚨Former Binance CEO Changpeng Zhao released from custody on Friday: Bloomberg💥😱

👉Changpeng Zhao was released on Friday, two days earlier than initially expected.

Current Binance executives said that Zhao will not have any influence on the exchange’s decision making.

👉Changpeng Zhao, the former leader and co-founder of Binance, was released on Friday, two days earlier than scheduled, according to Bloomberg.

Zhao, also widely known by his initials CZ, was sentenced to four months in prison in April this year after he pleaded guilty last year to failing to maintain an "effective anti-money laundering program." Zhao was given a $50 million fine, and Binance agreed to pay $4.3 billion, in one of the largest corporate settlements in history.

A spokesperson for the Federal Bureau of Prisons declined to provide specific information on Zhao's release.

"For privacy, safety, and security reasons, we do not discuss any incarcerated individual’s conditions of confinement, reasons for transfer, or specific release plans," the spokesperson said in a statement to The Block.

The spokesperson also noted a policy statement that said, "The Bureau of Prisons may release an inmate whose release date falls on a Saturday, Sunday, or legal holiday, on the last preceding weekday," with exceptions.

The U.S. Department of Justice had sought a significantly longer imprisonment of 36 months as they alleged that Zhao knowingly violated laws for the company’s and his own profit. Lawyers for Zhao, on the other hand, said that the former chief has accepted responsibility and “deeply regrets” his offense, asking the court for probation.

Zhao was replaced with former Abu Dhabi regulator Richard Teng, who has led Binance to place heavy investments into regulatory compliance, which he termed as “Binance 2.0.”

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