CZ prepares for his release! - News from 08/23/2024

But also: FTX repayment plan approved by creditors, Coinbase will allow the conversion of EURC to EUR and a former candidate accused of having financed her campaign with FTX money

CryptoQuent

August 23

 

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CZ has been transferred to California to prepare for his release from prison. He should be free in September! We explain everything! 🤯

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🔥 TODAY’S BURST

CZ Transferred to California to Prepare for Prison Release

Changpeng Zhao, the former CEO of Binance, has been transferred from prison to a halfway house run by the Office of Residential Reentry in Long Beach, California.

Contrary to rumors circulating on Crypto Twitter, CZ has not been released from custody. The transfer is a step for inmates nearing the end of their sentences to ease their reintegration into society. CZ, who began serving his sentence in May for violating U.S. anti-money laundering laws, is scheduled to be released on September 29.

He also agreed to pay a personal fine of $50 million, in addition to a $4.3 billion$ fine imposed on Binance. CZ remains under close surveillance and will be barred from running Binance for three years, according to the agreement reached with the U.S. government.

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