2024

April

Read

<ul>
 <li>Former CZ CEO CHangpeng ‘CZ’ Zhao has received his sentence from the US Court.</li>
 <li>For breaking the ‘Bank of Secrecy Act’ he is given 4 months in prison.</li>
 <li>Despite the sentence, the crypto community supports him and calls him a legend.</li>
</ul>
<p>Earlier this year Binance was put under the wire by US courts for alleged illegal activity. This led to Founder and then CEO, Changpeng ‘CZ’ Zhao to <a href="https://cryptonewsland.com/changpeng-cz-zhao-steps-down-as-binance-ceo-names-richard-teng-as-successor/" target="_blank" rel="noopener noreferrer nofollow">step down and distance himself from the Binance</a> name. A new CEO was appointed for Binance and CZ was scrutinized alone by the US court.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">BREAKING<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>CZ IS SENTENCED TO 4 MONTHS <br>IN PRISON BY U.S COURT.</p>— Ash Crypto (@Ashcryptoreal) <a href="https://twitter.com/Ashcryptoreal/status/1785383944705167779?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 30, 2024</a>
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<p>After months of investigation, <a href="https://cryptonewsland.com/binance-founder-czs-sentencing-postponed-to-april-30/" target="_blank" rel="noopener noreferrer nofollow">CZ ‘s sentencing was postponed to April 30</a>. Now, it has been made clear that CZ has been sentenced to 4 months in prison by the US Court. In detail, it seems the sentence has been placed due to ‘violations of the Bank Secrecy Act’ during CZ’s time at the crypto exchange.</p>
<p>The 4 month sentence comes as a relief to the crypto community as the <a href="https://www.justice.gov/" target="_blank" rel="noopener noreferrer nofollow">Department of Justice</a> (DOJ) initially sought a three-year prison sentence for CZ. CZ’s lawyers requested for probation instead leading to a much smaller sentence.&nbsp;</p>
<p>Amidst this move by the US Court, CZ has gained an incredible amount of genuine support from the global crypto community. For instance, multiple online accounts, all credible, are sharing genuine comments about CZ’s humble beginnings and his continued humility.</p>
<p>In particular, many of these posts mark CZ as a hero in the hearts of all crypto community members. In fact, one post goes as far as to say he looks forward to the day the US Feds are sentenced to prison for USD fiat’s role in cartel activity, human trafficking, and terrorism.&nbsp;</p>
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   <p lang="en" dir="ltr">I would like to thank everyone for your care and support, be it writing letters, showing support on X, or in any other form. They all mean a lot to me and keep me strong. I will do my time, conclude this phase and focus on the next chapter of my life (education).<br><br>I will remain a…</p>— CZ <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f536.png" alt="🔶" class="wp-smiley" style="height: 1em; max-height: 1em;"> BNB (@cz_binance) <a href="https://twitter.com/cz_binance/status/1785465555899822488?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 1, 2024</a>
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<p>The highlight of this story comes from CZ himself in his latest post where CZ takes a moment to thank everyone for their care and support. CZ says he has received multiple letters which gave him a lot of strength. He then promises to do his time, close this phase of his life, and focus on his <a href="https://giggleacademy.com/" target="_blank" rel="noopener noreferrer nofollow">next chapter</a> which is his pursuit to provide free education.</p>
<p>He also confirms that he will be a passive investor and holder in crypto and marks how the industry has moved into a new phase where compliance is incredibly important. Finally he addresses that the silver lining is that Binance has not been put under the microscope despite his sentencing meaning everyone’s funds are safe.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/sam-bankman-fried-fated-prison-sentence-reveal-set-for-march-28-2024/" rel="noopener noreferrer nofollow">Sam Bankman-Fried Fated Prison Sentence Reveal Set for March 28, 2024</a></li>
 <li><a href="https://cryptonewsland.com/binance-founder-czs-sentencing-postponed-to-april-30/" rel="noopener noreferrer nofollow">Binance Founder CZ’s Sentencing Postponed to April 30</a></li>
 <li><a href="https://cryptonewsland.com/do-kwon-might-see-the-last-bitcoin-mined-if-he-lives-enough-to-serve-his-sentence/" rel="noopener noreferrer nofollow">Do Kwon Might See the Last Bitcoin Mined If He Lives Enough To Serve His Sentence</a></li>
 <li><a href="https://cryptonewsland.com/u-s-prosecutors-recommend-three-year-sentence-for-binances-founder-zhao/" rel="noopener noreferrer nofollow">U.S. Prosecutors Recommend Three-Year Sentence for Binance’s Founder, Zhao</a></li>
 <li><a href="https://cryptonewsland.com/us-court-to-jail-scammer-as-precedent-against-crypto-fraud/" rel="noopener noreferrer nofollow">US Court To Jail Scammer as Precedent Against Crypto Fraud</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/binance-founder-cz-sentenced-4-months-in-prison-by-us-court-despite-this-crypto-community-supports-the-legend/" rel="noopener noreferrer nofollow">Binance Founder CZ Sentenced 4 Months in Prison by US Court, Despite This Crypto Community Supports the Legend</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Binance Founder CZ Sentenced 4 Months in Prison by US Court, Despite This Crypto Community Supports the Legend

Crypto News Land

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