Binance founder Changpeng Zhao, who pleaded guilty to money laundering violations in November, was sentenced to four months in prison on Tuesday.
U.S. prosecutors had recommended a 36-month sentence for Zhao.
The crypto billionaire stepped down as Binance's CEO as part of his agreement with the Justice Department.
Changpeng Zhao, former CEO of Binance, arrives at federal court in Seattle, Washington, April 30, 2024.
Changpeng Zhao, former CEO of Binance, arrives at federal court in Seattle, Washington, April 30, 2024.
David Ryder | Bloomberg | Getty Images
Binance's billionaire founder Changpeng Zhao was sentenced to four months in prison on Tuesday, after pleading guilty to charges of enabling money laundering at his crypto exchange.
"You had the wherewithal, the finance capabilities, and the people power to make sure that every single regulation had to be complied with, and so you failed at that opportunity," U.S. District Judge Richard Jones said to Zhao in a Seattle federal court, according to a Reuters report.
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