Changpeng Zhao, also known as CZ, has been moved to an administrative facility in the Greater Los Angeles area with 38 days left until his expected release from custody. Records from the United States Federal Bureau of Prisons show that Zhao is now at the Residential Reentry Management (RRM) Long Beach field office, after previously being at the Federal Correctional Institution Lompoc. The reason for the transfer before his scheduled release on Sept. 29 is unclear. In April, Zhao was sentenced to four months in prison for not maintaining an effective Anti-Money Laundering program at Binance. Following his resignation as Binance CEO in November 2023, Zhao pleaded guilty to a felony charge and agreed to a settlement with US authorities. Despite rumors online, there is no evidence to suggest that Zhao is currently free, as his release date remains unchanged on the BOP website. Read more AI-generated news on: https://app.chaingpt.org/news