Binance Founder CZ Freed After 118 Days: Will His Release Stabilize BNB?$BNB

Binance

Former Binance CEO Changpeng “CZ” Zhao was released from prison on Friday after serving 118 days of his four-month sentence.

His early release, which was tied to federal guidelines that allow for weekend release, follows a guilty plea in April to violating U.S. anti-money laundering laws while serving as Binance CEO.

The court ordered CZ to pay a personal fine of $50 million, while Binance received a separate fine of $4.3 billion.

Despite his legal troubles and time behind bars, Fortune reports that Zhao still has a massive personal fortune, estimated at more than $60 billion. His release has sparked speculation in the cryptocurrency community about its potential impact on the market, particularly the future of Binance Coin (BNB).