Bank

Arthur

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
Changpeng Zhao, the founder of crypto giant Binance, is&nbsp;<a href="https://storage.courtlistener.com/recap/gov.uscourts.wawd.328570/gov.uscourts.wawd.328570.78.0.pdf">set to be sentenced</a> on Tuesday, potentially facing years in prison.&nbsp;&nbsp;
Last week, the US Department of Justice requested 36 months behind bars for the former Binance boss.&nbsp;
In its sentencing memo, the DOJ stressed that "breaking U.S. law was critical to the company’s success and profitability." The prosecutors state that his violation of the law was "no accident or oversight."
"Zhao bet that he would not get caught, and that if he did, the consequences would not be as serious as the crime. But Zhao was caught, and now the Court will decide what price Zhao should pay for his crimes," the memo said.&nbsp;
It is worth noting that the controversial entrepreneur pleaded guilty to multiple criminal charges last year while also stepping down from his role as the CEO of the Binance exchange. Binance also had to fork out a massive $4 billion fine.&nbsp;
At the same time, Binance's lawyers are pushing for probation.&nbsp;<a href="https://u.today/former-binance-ceo-cz-teasing-new-project">CZ</a> has also penned a letter, in which he apologized for his missteps and asked for forgiveness.&nbsp;
Industry observers believe that CZ is unlikely to get a prison sentence. For instance, former BitMEX CEO Arthur Hayes was sentenced to two years of probation back in May 2022 after facing up to a year behind bars for violating the Bank Secrecy Act (BSA).&nbsp;
Polymarket users see a 40% chance of CZ spending less than six months behind bars. Only 3% of users believe that he could be jailed for 36 months or more. &nbsp;&nbsp;
In March, former FTX CEO and CZ nemesis Sam Bankman-Fried was sentenced to as many as 25 years behind bars after being found guilty of multiple counts of fraud.&nbsp;

Binance Founder CZ Could Be Sentenced to Years in Prison Tomorrow

U_Today

在 2024年4月29日發表的其他文章

Investors Bet On Shiba Inu And Avalanche To Rise; Expert Calls Guaranteed 1,000% Gains On Rebel S...

How to check your 2024 JAMB/UTME results online or using SMS

Australian Securities Exchange Gears Up To List Spot Bitcoin ETFs This Year

Just In: FTX, Voyager Secure $450M Settlement in Bankruptcy

Avalanche and Stripe Partnership Boosts Crypto Buying Ease

ASX Set to Spearhead Crypto ETF Revolution in Australia

訂閱免費電子報，每天收取加密貨幣最新動態！