🚨 Binance founder Changpeng Zhao (CZ) could spend three years in prison, according to a Reuters report.

Federal prosecutors have sought 36 months in prison for Zhao, underscoring the seriousness of his crimes under the Bank Secrecy Act. Additionally, the sentencing memorandum filed Tuesday recommends a substantial fine of $50 million.

The judicial process against Zhao has suffered delays. His sentencing has been postponed until April 30. Since his initial appearance in Seattle last year, Zhao has not been able to return to Dubai, where he lives with his partner and children.

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