Binance founder CZ is set to be released from prison next week. The official website of the U.S. Federal Bureau of Prisons shows that 47-year-old CHANGPENG ZHAO, with registration number 88087-510, will be freed on September 29, 2024.
Zhao, widely known as “CZ” in the crypto community, was sentenced to four months in prison on April 30, 2024. This came after he pleaded guilty to violating U.S. money-laundering laws. The sentencing took place in a Seattle federal court, presided over by Judge Richard Jones.
According to the official website of the U.S. Federal Bureau of Prisons, Binance founder CZ will be released from prison next week. The official website shows that 47-year-old Asian man CHANGPENG ZHAO will be released on September 29, 2024, with registration number: 88087-510.… pic.twitter.com/QObnDODcrp
— Wu Blockchain (@WuBlockchain) September 16, 2024
The legal issues stemmed from Zhao’s failure to implement adequate anti-money laundering measures at Binance. This oversight allowed the exchange to inadvertently facilitate transactions linked to illicit activities, including child sex abuse and drug trafficking.
Zhao’s legal troubles stemmed from his failure to implement adequate anti-money laundering measures at Binance. This oversight allowed the exchange to facilitate transactions linked to illicit activities, including child sex abuse and drug trafficking.
Read also: Bitcoin Price Crashes Below 59K – Why Is The Crypto Market Down Today?
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