April

<figure> 
 <figcaption>
  Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
<p lang="en-GB" xml:lang="en-GB">Chinese cryptocurrency blogger Colin Wu has published a tweet, sharing news about the founder of the world’s biggest cryptocurrency exchange, <a href="https://u.today/heres-how-many-bnb-tokens-cz-owns">Binance, and its former CEO</a>.</p>
<p lang="en-GB" xml:lang="en-GB">Changpeng Zhao (known to the crypto community simply as CZ) was forced to step down from his leading position on charges of money laundering in the U.S. For his cooperation with the court, and Binance paying a $4.3 billion fine, he was sentenced to just four months in prison. The sentence was made on April 30 this year.</p>
<p lang="en-GB" xml:lang="en-GB">The day when CZ was expected to leave prison was Aug. 30. Now, unless his situation changes, that will not happen so soon.</p>
<h2 id="cz-likely-to-stay-in-prison-longer-here-s-why">CZ likely to stay in prison longer, Here's why</h2>
<p lang="en-GB" xml:lang="en-GB">Colin Wu cited an article by Protos, which stated that unless any significant alterations arise in CZ’s current situation, he will walk out of the FCI Lompoc II low-security prison (FCI standing for “Federal Correctional Institution”) in Seattle a month later than expected – on Sept. 29.</p>
<blockquote>
 <p lang="en" dir="ltr">Protos: Unless CZ’s situation changes, he won’t be leaving FCI Lompoc II on August 30. Rather, his current release date is scheduled for September 29. CZ is in Federal Correctional Institution Lompoc II, a low-security federal prison three hours north of Los Angeles.…</p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1816768006325961053?ref_src=twsrc%5Etfw">July 26, 2024</a>
</blockquote> 
<p lang="en-GB" xml:lang="en-GB">The issue is that CZ’s lawyers from major law firms Quinn Emanuel Urquhart &amp; Sullivan, Davis Wright Tremaine and Latham &amp; Watkins initially announced that they would try to get CZ an extra several weeks of freedom. However, Changpeng Zhao did not start serving his short prison sentence on April 30, as was planned.</p>
<p lang="en-GB" xml:lang="en-GB">He eventually went to prison at the end of May, almost a month later. CZ has become the richest person to ever do a jail time in the U.S. Initially, prosecutors insisted on him getting a three-year prison sentence, but the judge eventually reduced that to just four months.</p>
<h2 id="cz-s-most-recent-business-ventures-and-plans">CZ's most recent business ventures and plans</h2>
<p lang="en-GB" xml:lang="en-GB">After CZ resigned as Binance boss in November last year, he first announced his plans to try and combine crypto and biotech. However, later he rejected that idea and started developing an online school called “Giggle Academyб” where he planned to give free educational courses to children and teenagers in a playful form, using modern tech.</p>
<p lang="en-GB" xml:lang="en-GB">One of the projects CZ worked on was teaching English. After ршы sentence was announced in April, the former Binance boss teased on X that he might <a href="https://u.today/binance-founder-cz-teasing-his-own-book">write a book</a> since he would be getting some free time soon.</p>

Former Binance CEO CZ Case Sees Unexpected Turn: Details

Tabla de contenidos

U_Today

Otros artículos publicados el 26 jul 2024

Bitcoin Faces Major Resistance Levels

Memecoin Market Sees Significant Growth Led by Popular Tokens

Elon Musk’s X Removes Crypto Emojis, Leaving Community Puzzled

US To Buy $619 Billion In Bitcoin If Kennedy Jr. Is Elected

Galaxy Asset Management Unveils $113M Fund to Drive Crypto Innovation in 2024

Ethereum ETFs Rocket past $1Billion Trades on Opening Day How ERC-20 Tokens Aave and Gaming Sensa...

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!