BREAKING NEWS 🔥 🔥

CZ CASE Instant developments.. 🧑‍🚀

19.40 ET: Judge Jones sat on the bench. CZ's trial begins.

19.49 CET: Discussion has begun on legal standards regarding sentence enhancements.

The prosecution is trying to bring some improvements to CZ's sentence. This objection will be considered before the case progresses.

20.00 GMT: Judge Richard Jones said the court found that the defendant accepted responsibility.

First the government official, then the Probation Office, and then the lawyers from the defense will speak. As far as we know, no one else will speak.

20.03 ET: "This was not a mistake, and it would be wrong to say it was an editing error," prosecutor Kevin Mosley said about the allegations in the case.

20.05 GMT: "A prison sentence is necessary to reflect the seriousness of the crime," Mosley told the court.

“The brazen nature of this behavior warrants a sentence that includes significant prison time.” Mosley says the scale of this crime is “much greater” than other crimes.

20.18 CET: Judge Richard Jones has a question:

The government's request is twice the upper end of the guideline range. Wouldn't this create inequality in sentencing?

Mosley argues that the disparity arises from the magnitude of the behavior and the fact that CZ is the one directing it.

20.19 CET: Changpeng Zhao is not enjoying these conversations. He listens to the U.S. Attorney with his eyebrows up, his forehead furrowed, and sometimes his brows furrowed.

TSI 20.24: The parole department official's speech began:

They recommend a prison sentence of 5 months. This would be one of the longest sentences for such behavior in the United States.

CZ's lawyers' defense speech began:

“While I hear the government discussing crime here, they don't seem to actually be discussing crime.”

So CZ pleaded guilty to not having an anti-money laundering program. Sanctions violations are irrelevant.