Former Binance CEO Changpeng Zhao, also known as CZ, is awaiting sentencing on Tuesday after pleading guilty to violating the Bank Secrecy Act. While the charge carries a potential sentence of up to 10 years in prison, his cooperation and guilty plea could result in a sentence of just 18 months. The US Department of Justice has recommended a three-year sentence, while his defense team is asking for no prison time and instead suggesting house arrest and probation. Zhao's plea deal also includes a $50 million fine, but his estimated net worth of $43 billion means he may have the option to appeal if sentenced to more than 18 months in prison.
Binance Founder CZ Zhao Faces Sentencing for Violating Bank Secrecy Act
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