2024

Bitcoin

<h4><strong>He was convicted for not implementing proper <a href="https://cointelegraph.com/news/binance-cz-face-new-class-action-lawsuit-seattle" target="_blank" rel="noopener noreferrer nofollow">“Know Your Customer” (KYC) measures</a> at his cryptocurrency exchange. </strong></h4>
<p>KYC is a rule that helps companies know who their customers are to prevent illegal activities. Although CZ resigned as CEO of Binance, he still holds the title of the largest shareholder of the company.</p>
<h5><strong>A Bit of a Surprise</strong></h5>
<p>Interestingly, CZ’s release is happening two days earlier than expected. This is due to a policy that allows inmates to be released early if their release date falls on a weekend. So, instead of waiting until later this week, CZ will walk out of prison today.&nbsp;CZ’s leadership is vital for Binance, especially since it is one of the largest cryptocurrency exchanges in the world. He still holds significant influence over the company and its future.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> CZ EARLY RELEASE: Binance founder CZ is set for early release today after serving 119 days in prison.</p>
 <p>Convicted for failing to implement KYC, he resigned as CEO but remains Binance’s largest shareholder.</p>
 <p>His release comes 2 days early due to weekend policy.</p>
 <p>BULLISH. <a href="https://t.co/GZVc4Xd1kx" rel="noopener noreferrer nofollow">pic.twitter.com/GZVc4Xd1kx</a></p>
 <p>— Cointelegraph (@Cointelegraph) <a href="https://twitter.com/Cointelegraph/status/1839605984085299462?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 27, 2024</a></p>
</blockquote>
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<p>After being away for 119 days, CZ will likely want to hit the ground running. The crypto world moves fast, and there’s no time to waste. He will need to reassure users and regulators that <a href="https://www.altcoinbuzz.io/?s=binance" target="_blank" rel="noopener noreferrer nofollow">Binance</a> is committed to making its platform safe for everyone. This will involve enhancing KYC procedures and possibly making other changes to avoid any future issues.</p>
<h5><b>More About Binance</b></h5>
<p>Earlier this month, Binance hit a historic milestone by surpassing $100 trillion in all-time trade volume. This massive achievement highlights Binance’s role as one of the largest and most influential cryptocurrency exchanges in the world.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en"><a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> reached a historic milestone of $100 trillion in all-time trade volume, earlier this month.</p>
 <p>We owe it all to our community—thank you for your continued trust and support.</p>
 <p>We keep building, because y’all deserve nothing but the best. <a href="https://t.co/WCyiUrDbk1" rel="noopener noreferrer nofollow">pic.twitter.com/WCyiUrDbk1</a></p>
 <p>— Binance (@binance) <a href="https://twitter.com/binance/status/1838610620091871342?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 24, 2024</a></p>
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<p>With millions of users trading a wide variety of <a href="https://www.altcoinbuzz.io/?s=coins" target="_blank" rel="noopener noreferrer nofollow">digital assets</a>, this milestone reflects the platform’s growth and the increasing global adoption of cryptocurrencies.</p>
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<h6><strong>Disclaimer</strong></h6>
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p>
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/cz-set-for-early-release-from-prison-on-september-27th/" rel="noopener noreferrer nofollow">CZ Set for Early Release from Prison on September 27th</a> appeared first on <a href="https://www.altcoinbuzz.io" rel="noopener noreferrer nofollow">Altcoin Buzz</a>.</p>

CZ Set for Early Release from Prison on September 27th

Altcoin Buzz

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