In a recent court filing, US prosecutors say CZ should serve 36 months in prison.
Binance’s former CEO Changpeng “CZ” Zhao is awaiting sentencing on April 30 in Seattle. Leading to the trial, US prosecutors say he should serve 36 months in prison.
CZ pleaded guilty to violating laws against money laundering. The former Binance CEO remains in the US on a $175mn bond and has previously agreed to cease involvement in the exchange.
While many expect this to be a major blow to Binance, co-founder He Yi said that CZ’s regulatory situation in the US was stable and that past pressures were expected. He Yi also described it as the best possible outcome for the situation.
CZ has said he planned to start an online education platform while waiting for his sentencing.
The former Binance founder was also made to surrender his Canadian passport and was restricted to travel outside the US.
He was previously scheduled to be sentenced on Feb 23, but the date was moved to April 30.
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