- Binance exchange founder Changpeng Zhao “CZ” has been released from prison, according to the US Bureau of Prisons (BOP).

Zaw's release comes two days before his scheduled release on Sunday, September 29. Under the law, the BOP is allowed to release prisoners from prison.Early if the release date falls on a weekend or public holiday.

Binance's BNB is trading at $596.5 today and has risen 3.27% in the past week. It is worth noting that it managed to surpass the $600 level last week but fell due to profit-taking.

While prison sentences for Bank Secrecy Act violations are uncommon (former BitMEX CEO Arthur Hayes, who pleaded guilty to similar charges in 2022, was sentenced to probation only), Zhao’s four-month sentence was lenient compared to the three years federal prosecutors had sought.

The judge in Zhao’s case, federal Judge Richard Jones of the U.S. District Court for the Western District of Washington, appeared impressed by his clean criminal record and good reputation, which was bolstered by 161 letters of support from friends, family and colleagues. Zhao — formerly known as inmate number 88087-510 — spent three months at a low-security prison, Lompoc II, on California’s Central Coast. In August, he was transferred to Halfway House in San Pedro, California. With a net worth estimated at $25.3 billion, according to the Bloomberg Billionaires Index, Zhao is believed to be the richest person to enter prison in the United States.

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