Changpeng Zhao, Binance Founder, Receives Four-Month Prison Term

In a recent judicial decision, Changpeng Zhao, the founder of Binance, the largest cryptocurrency exchange globally, was sentenced to a four-month prison term. The sentencing, which took place on April 30, marked a significant chapter in the legal scrutiny surrounding the cryptocurrency magnate.



During the proceedings, federal prosecutors from the Department of Justice (DOJ) advocated for a three-year incarceration. In contrast, Zhao's defense argued against any prison time. However, Judge Richard Jones ruled in favor of a substantially reduced sentence, diverging significantly from the DOJ's recommendation. He highlighted the absence of clear evidence that Zhao was directly informed of the specific unlawful activities purportedly taking place on his platform.



Judge Jones also acknowledged the comprehensive report submitted by


First found on: Cryptonews from Coinatory