Future

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Yesterday, Binance’s founder, Changpeng Zhao, was sentenced in Seattle to four months in jail.</li>
 <li>Now, he’s addressing the Court’s decision and his focus on the next chapter of his life – education.</li>
</ul>
The other day, following a hearing in Seattle, the Court<a href="https://crypto.ro/en/news/binances-changpeng-zhao-sentenced-to-4-months-in-prison/" rel="noopener noreferrer nofollow"> decided</a> that Binance’s founder, <a href="https://twitter.com/cz_binance" rel="noopener noreferrer nofollow" target="_blank">Changpeng Zhao</a>, should serve four months in jail.
After prosecutors and CZ’s defense spoke, along with Zhao himself, Judge Richard Jones stated that everything he saw in CZ’s history and characteristics were “of a mitigating nature and a positive nature.”
He then recognized that Zhao came voluntarily to the US and had not previously broken laws, taking significant steps in cooperation with law enforcement.
The Judge made it clear that he didn’t think that Zhao was likely to re-offend but concluded that the scale of his offense was remarkable.
The <a href="https://storage.courtlistener.com/recap/gov.uscourts.wawd.328570/gov.uscourts.wawd.328570.81.2.pdf" rel="noopener noreferrer nofollow" target="_blank">letters</a> sent to the Court on his behalf played a significant role in the decision.
<h2 id="cz-addresses-the-court-s-decision-and-future-phase-in-life">CZ addresses the Court’s decision and future phase in life</h2>
Today, May 1, CZ posted a message on his X account, thanking everyone for their care and support. People close to him, family and supporters, wrote letters and showed support on X and in other forms.
He said that everything means a lot to him and keeps him strong. CZ also addressed the fact that he will do his time and conclude this phase of his life with a future focus on the next chapter – education.
CZ also wrote that he will remain a passive investor and holder in crypto, highlighting the fact that the industry has entered a new phase in which compliance is “super important.”
CZ concluded by saying that a silver lining of the whole process is the fact that Binance has been under the microscope, and now all funds are SAFU.
Not too long ago, Binance<a href="https://crypto.ro/en/news/binance-converts-1b-safu-to-usdc-to-enhance-reliability/" rel="noopener noreferrer nofollow"> revealed</a> that it had converted the entire pool of assets that is held in the emergency fund for users into USDC. The Secure Asset Fund For Users (SAFU) remains part of the ecosystem at $1 billion.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
 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).
 I will remain a…
 — 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" target="_blank">May 1, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Yesterday, Zhao spoke during the hearing as well, saying that he was sorry and he wanted to take responsibility for his mistakes.
CZ also said that Binance did implement a KYC/AML program, and it’s cooperating with the US government.
He stated that he wants to create a platform for online education for underprivileged kids, which would be rewarding and meaningful.
The sentence of the Seattle Court comes following CZ’s guilty plea from November 2023 regarding the violation of anti-money laundering regulations set in place by the Department of Justice in the US.

Binance’s Changpeng Zhao Addresses Court’s Decision, Outlines Future Plans

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