iBNB

<ul><li>Seattle federal court postponed Changpeng Zhao&#39;s sentencing to late April 2024 for undisclosed reasons.</li><li>Zhao, potentially facing sentencing up to ten years, remains free on a $175 million bond in the U.S.</li><li>Zhao offered $4.5 billion in Binance.US equity against concerns of being a flight risk.</li></ul>The Seattle federal court has <a href="https://www.cnbc.com/2024/02/12/criminal-sentencing-of-binance-founder-cz-postponed-to-late-april-.html" rel="noopener noreferrer nofollow">announced</a> a postponement in the sentencing of Changpeng Zhao, the Binance founder, now rescheduled for late April 2024. Zhao faces charges, including money laundering, amidst a crackdown by the U.S. Securities and Exchange Commission (SEC). Initially set for the end of February, the sentencing has been delayed, with the reasons not disclosed in the court documents.Federal sentencing guidelines suggest Zhao could face up to 18 months in prison, yet the prosecution has the liberty to advocate for a sentence up to the statutory maximum of ten years. This stance indicates a potential for a more severe punishment than the guidelines suggest. Despite this, Zhao&#39;s legal team is expected to request leniency, possibly arguing for no jail time or an alternative sentence that includes home detention and probation.Zhao&#39;s attempts to navigate his legal challenges include <a href="https://cryptotale.org/binance-founder-cz-seeks-court-approval-for-travel-amid-legal-woes/" rel="noopener noreferrer nofollow">multiple denied requests</a> to return to the United Arab Emirates. U.S. District Judge Richard Jones has rejected these requests, highlighting Zhao&#39;s wealth and lack of ties to the U.S. as factors that contribute to him being a flight risk. Notably, Zhao offered all his equity in Binance.US, valued at approximately $4.5 billion, as collateral to secure his return, underscoring the high stakes of his legal battle.Read full article at <a href="https://cryptotale.org/court-delays-sentencing-of-crypto-mogul-changpeng-zhao-till-april-2024/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Court Delays Sentencing of Crypto Mogul Changpeng Zhao Till April 2024

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