The founder of the largest crypto exchange Binance, Changpeng Zhao, turned himself in to a low-security federal prison in Lompoc, California, to serve his sentence. 🚨
- Zhao was sentenced to four months in prison for money laundering through his crypto exchange.
- After serving his sentence, Zhao plans to return to the crypto industry by maintaining his existing crypto assets and engaging in passive investments.
- The cryptocurrency community expressed admiration for the former CEO when he surrendered to authorities, praising his decision not to expose Binance to risk.
- Zhao was also ordered to pay a fine of $50 million.
Source: Elijah Boom