Bitcoin
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$100,386.00 3.50229
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Ethereum
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$2,016.19 10.74253
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$620.29 3.07069
BNB price
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$159.57 9.28523
Solana price
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$2.25 5.71395
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$100,386.00 3.50229
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Ethereum
Ethereum (ETH)
$2,016.19 10.74253
Ethereum price
BNB
BNB (BNB)
$620.29 3.07069
BNB price
Solana
Solana (SOL)
$159.57 9.28523
Solana price
XRP
XRP (XRP)
$2.25 5.71395
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000138 8.34205
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000099 22.07411
Pepe price
Bonk
Bonk (BONK)
$0.0000192 15.43119
Bonk price
dogwifhat
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$0.648723 17.80197
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Popcat
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Bitcoin
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$100,386.00 3.50229
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Ethereum
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$2,016.19 10.74253
Ethereum price
BNB
BNB (BNB)
$620.29 3.07069
BNB price
Solana
Solana (SOL)
$159.57 9.28523
Solana price
XRP
XRP (XRP)
$2.25 5.71395
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000138 8.34205
Shiba Inu price
Pepe
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$0.0000099 22.07411
Pepe price
Bonk
Bonk (BONK)
$0.0000192 15.43119
Bonk price
dogwifhat
dogwifhat (WIF)
$0.648723 17.80197
dogwifhat price
Popcat
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$0.488048 16.24347
Popcat price
Bitcoin
Bitcoin (BTC)
$100,386.00 3.50229
Bitcoin price
Ethereum
Ethereum (ETH)
$2,016.19 10.74253
Ethereum price
BNB
BNB (BNB)
$620.29 3.07069
BNB price
Solana
Solana (SOL)
$159.57 9.28523
Solana price
XRP
XRP (XRP)
$2.25 5.71395
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000138 8.34205
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000099 22.07411
Pepe price
Bonk
Bonk (BONK)
$0.0000192 15.43119
Bonk price
dogwifhat
dogwifhat (WIF)
$0.648723 17.80197
dogwifhat price
Popcat
Popcat (POPCAT)
$0.488048 16.24347
Popcat price

Former Binance CEO Changpeng Zhao to be released from U.S. prison

Jayson Derrick
Edited by
News
Former Binance CEO Changpeng Zhao to be released from U.S. prison

Binance founder Changpeng Zhao, commonly known as CZ, will be released from prison on Sept. 29.

Zhao, 47, was sentenced to four months in prison for violations of U.S. anti-money laundering and sanctions regulations. He is currently being held at a low-security federal prison in San Pedro, California.

According to the U.S. Federal Bureau of Prisons website, Zhao is set to be released from U.S. custody on September 29.

Former Binance CEO Changpeng Zhao to be released from U.S. prison - 1
Source: Federal Bureau of Prisons

Zhao’s legal troubles

Zhao’s legal troubles began in November 2023 when he and Binance (BNB) pleaded guilty several charges related to the company’s operations. These included facilitating transactions for countries under U.S. sanctions, including Iran and Cuba. The charges primarily related to money laundering.

As part of a settlement with the U.S. government, Binance was ordered to pay $4.3 billion in fines, while Zhao personally paid a $50 million fine and agreed to step down as CEO. 

U.S. prosecutors initially sought a three-year prison sentence for Zhao, arguing that the violations enabled large-scale money laundering. However, U.S. District Judge Richard Jones opted for a more lenient sentence, concluding that there was insufficient evidence proving Zhao had direct knowledge of the illegal activity. Jones also cited Zhao’s history and character as mitigating factors, leading to the significantly reduced sentence.

Despite the legal challenges faced by Binance, the exchange continues to operate, and Zhao’s potential return to the crypto industry after his release remains a topic of discussion.

Earlier in 2024, Zhao hinted at a new platform Giggle Academy, a free educational platform for underprivileged children. Although he remains a major investor in Binance, this venture marks his move to establish a legacy beyond crypto.