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Former Binance CEO Changpeng Zhao's Sentencing Date Rescheduled
Former Binance CEO Changpeng Zhao will have to wait until the end of April to learn the sentence he will face for the charge of money laundering.On February 12 (US time), the Western District Court of Washington (Seattle) announced the postponement of the sentencing date for former Binance CEO Changpeng Zhao (CZ) from February 23 to April 30 without providing a reason.Previously, according to a settlement agreement between Binance and the US Department of Justice in November 2023, the exchange agreed to pay a record fine of $4.3 billion to settle investigations and CEO Changpeng Zhao was required to resign and not hold management positions at the exchange for the next 3 years.Mr. Zhao appeared in court in Seattle and pleaded guilty to negligence in anti-money laundering efforts at Binance, facing a sentence of up to 18 months in prison. The former CEO is currently on bail in the US with bail set at up to $175 millionHowever, the court has twice rejected CZ's request to return to the UAE due to concerns about him fleeing, as the US does not have an extradition treaty with the UAE and no way to seize his assets abroad.Mr. Zhao even used all of his shares in Binance.US as collateral to ensure his return to the US, with a declared value of $4.5 billion, but his request for family reunification was still denied by the court. However, many analysts point out that the value of these shares is based on Binance.US's 2022 fundraising round, before the exchange became embroiled in legal battles with the US and has since declined significantly.#Write2Earn #TrendingTopic #BinanceSqaure #BinanceNews
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Binance offers a Locked BNB Product rewards program with up to 28,888 MANTA and other attractive rewards.Introducing Binance Earn's Festive Lunar New Year Offer for Locked BNB Product! Complete registration for Locked BNB Product now to earn exciting rewards:Share Locked BNB Simple Earn Product worth 28,888 MANTAExclusive VIP Binance itemEarn Launchpool rewards (if available)Earn BNB rewards with up to 3.5% APRProgram: Register for Locked BNB Product to share Locked BNB Simple Earn Product worth 28,888 MANTA and Exclusive VIP Binance itemProgram duration: 04:00 on February 6, 2024 (UTC) - 23:59 on February 18, 2024 (UTC)To participate in the program, you must have a Binance account,skip this if you have oneDuring the program, users meeting all of the frequirements will be eligible to participate, to participate:•Opt-in for the promotion•Register Locked BNB Product with at least 0.5 BNBAll eligible users will be ranked by their net Locked BNB Product registration amount (where net Locked BNB Product registration amount is understood as the total amount of BNB registered in Locked BNB Product minus the amount of BNB withdrawn from Locked BNB Product) during the program duration.Subsequently, the top 500 users will qualify to share the rewards. Please note that MANTA rewards will be automatically locked in Locked BNB Simple Earn for 150 days and users can enjoy an APR of 8.9%.#Write2Earn #BNB #BNBreward #earn
#BinanceSqaure #Square #Write2Earn $Former Binance CEO Changpeng Zhao's Sentencing Date Rescheduled
Former Binance CEO Changpeng Zhao will have to wait until the end of April to learn the sentence he will face for the charge of money laundering.
On February 12 (US time), the Western District Court of Washington (Seattle) announced the postponement of the sentencing date for former Binance CEO Changpeng Zhao (CZ) from February 23 to April 30 without providing a reason.
Previously, according to a settlement agreement between Binance and the US Department of Justice in November 2023, the exchange agreed to pay a record fine of $4.3 billion to settle investigations and CEO Changpeng Zhao was required to resign and not hold management positions at the exchange for the next 3 years.
Mr. Zhao appeared in court in Seattle and pleaded guilty to negligence in anti-money laundering efforts at Binance, facing a sentence of up to 18 months in prison. The former CEO is currently on bail in the US with bail set at up to $175 million
However, the court has twice rejected CZ's request to return to the UAE due to concerns about him fleeing, as the US does not have an extradition treaty with the UAE and no way to seize his assets abroad.
Mr. Zhao even used all of his shares in Binance.US as collateral to ensure his return to the US, with a declared value of $4.5 billion, but his request for family reunification was still denied by the court. However, many analysts point out that the value of these shares is based on Binance.US's 2022 fundraising round, before the exchange became embroiled in legal battles with the US and has since declined significantly.
Former Binance CEO Changpeng Zhao will have to wait until the end of April to learn the sentence he will face for the charge of money laundering.
On February 12 (US time), the Western District Court of Washington (Seattle) announced the postponement of the sentencing date for former Binance CEO Changpeng Zhao (CZ) from February 23 to April 30 without providing a reason.
Previously, according to a settlement agreement between Binance and the US Department of Justice in November 2023, the exchange agreed to pay a record fine of $4.3 billion to settle investigations and CEO Changpeng Zhao was required to resign and not hold management positions at the exchange for the next 3 years.
Mr. Zhao appeared in court in Seattle and pleaded guilty to negligence in anti-money laundering efforts at Binance, facing a sentence of up to 18 months in prison. The former CEO is currently on bail in the US with bail set at up to $175 million
However, the court has twice rejected CZ's request to return to the UAE due to concerns about him fleeing, as the US does not have an extradition treaty with the UAE and no way to seize his assets abroad.
Mr. Zhao even used all of his shares in Binance.US as collateral to ensure his return to the US, with a declared value of $4.5 billion, but his request for family reunification was still denied by the court. However, many analysts point out that the value of these shares is based on Binance.US's 2022 fundraising round, before the exchange became embroiled in legal battles with the US and has since declined significantly.