The latest situation of Zhao Changpeng’s incident is as follows:
1. U.S. prosecutors seek prison sentences:
U.S. prosecutors have formally filed a request seeking a 36-month (or three-year) prison sentence for former Binance CEO Changpeng Zhao, following his admission of violating U.S. anti-money laundering regulations.
2. Background and Confession:
Zhao Changpeng resigned as CEO of Binance in November 2023 and pleaded guilty to related criminal and civil charges during this period. His guilty plea was part of a settlement agreement with the U.S. Department of Justice that allowed Binance to continue operating in the United States, but it was subject to strict regulatory conditions and a huge fine.
3. Huge fines:
Binance was fined $4.3 billion for violating anti-money laundering and sanctions regulations. In addition, Zhao Changpeng was fined $50 million personally. Combined with previous fines, the total fines paid by Zhao Changpeng and his affiliated company Binance have exceeded $7 billion (about RMB 50 billion).
4. Upcoming sentencing:
Zhao Changpeng is expected to be sentenced in Seattle on April 30, 2024. This date is the date the court has scheduled for his sentencing.
5. Family members’ reactions:
Binance co-founder He Yi, Zhao’s partner and mother of his children, has written to the court, imploring the judge to consider Zhao’s personal qualities and his importance to the family when sentencing, especially considering their children are attending American universities.
6. Wealth status:
Despite legal proceedings and hefty fines, Changpeng Zhao's personal wealth remains significant. The Bloomberg Billionaires Index as of April 2024 shows that his net worth is approximately US$42.6 billion, ranking 29th in the world; and on the Forbes real-time billionaire list, his net worth is US$33 billion, ranking first in the world. No. 50.
In summary, the latest developments in the Zhao Changpeng case focus on the prosecution's request for a three-year prison sentence, which will be decided in the upcoming court ruling on April 30. Prior to this, Zhao Changpeng's family members had expressed concerns that the sentence might affect their family life and submitted relevant letters to the court. Despite the legal difficulties, Zhao Changpeng's personal wealth remains among the world's top richest people.
