Long

JUST

2024

<p class="is-style-lead">Changpeng Zhao, the former CEO of Binance, has been transferred from prison to a halfway house at the Residential Reentry Management office in Long Beach, California.</p> 
<p>Crypto Twitter is pumping with rumors and speculation that <a href="https://crypto.news/tag/changpeng-zhao/" target="_blank" data-type="link" data-id="https://crypto.news/tag/changpeng-zhao/" rel="noreferrer noopener">Zhao</a> has been officially released from all custody. Although false, recent federal inmate trackers <a href="https://www.bop.gov/mobile/find_inmate/byname.jsp#inmate_results" target="_blank" rel="">have been updated</a> to show that Zhao is in a halfway house.&nbsp;</p> 
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   <p lang="en" dir="ltr">JUST IN‼️<br><br>Binance founder CZ is out of prison and has been transferred to a 'halfway house'.<br><br>Full releases in September, just in time for bull market 🚀 🤑 <a href="https://t.co/OVNQHpyaN6" target="_blank" rel="">pic.twitter.com/OVNQHpyaN6</a></p>— Radar🚨 (@RadarHits) <a href="https://twitter.com/RadarHits/status/1826691638032564368?ref_src=twsrc%5Etfw" target="_blank" rel="">August 22, 2024</a>
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<p>Zhao remains in custody despite his move and has not been released.&nbsp;RRM Long Beach is a facility designed to help inmates transition back into society as they near the end of their sentences.&nbsp;</p> 
<p> You might also like: <a href="https://crypto.news/crypto-scam-99-arrested-in-philippine-raid-on-chinese-run-center/"> Crypto scam: 99 arrested in Philippine raid on Chinese-run center </a> </p> 
<h2 class="wp-block-heading" id="changpeng-zhao-s-sentencing">Changpeng Zhao’s sentencing</h2> 
<p>Zhao, who <a href="https://crypto.news/binance-founder-changpeng-zhao-begins-prison-sentence/" target="_blank" rel="noreferrer noopener">began serving his sentenc</a>e in late May for violating U.S. anti-money laundering laws, is scheduled to be released on September 29.&nbsp;</p> 
<p>He <a href="https://crypto.news/binance-founder-changpeng-zhao-sentenced-to-4-months-in-prison/" target="_blank" rel="noreferrer noopener">pleaded guilty</a> to violating U.S. anti-money laundering laws. Zhao stepped down as CEO of Binance. As part of the legal resolution, <a href="https://crypto.news/tag/Binance" target="_blank" data-type="link" data-id="https://crypto.news/tag/Binance" rel="noreferrer noopener">Binance</a> was also fined $4.3 billion, with Zhao personally agreeing to pay a $50 million fine.</p> 
<p>Zhao remains under strict supervision and is still completing his sentence. This development comes as Zhao faces a new lawsuit filed by crypto traders accusing Binance of enabling money laundering through insufficient regulatory practices.</p> 
<p>Zhao, <a href="https://crypto.news/changpeng-zhao-named-wealthiest-man-in-crypto-industry-heres-why/" target="_blank" rel="noreferrer noopener">one of the wealthiest figures</a> in crypto, is also barred from managing Binance for three years following a settlement with the U.S. government.</p> 
<p> You might also like: <a href="https://crypto.news/franklin-templeton-brings-tokenized-money-market-fund-to-avalanche/"> Franklin Templeton brings tokenized money market fund to Avalanche </a> </p>

Binance founder CZ moved to halfway house, remains in custody

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