Binance Founder Changpeng Zhao Released from US Custody
Binance founder Changpeng Zhao was released from a correctional facility in California on Friday. He was sentenced to four months in prison after pleading guilty to violating U.S. anti-money laundering laws at Binance. Binance faced accusations of facilitating illegal activities and agreed to a one dollar 4.32 billion penalty, with Zhao paying a one dollar 50 million fine.
Binance founder Changpeng Zhao was released from a correctional facility in California on Friday, according to Bloomberg News.
Earlier this year, Zhao was sentenced to four months in prison after pleading guilty to violating U.S. anti-money laundering laws at Binance, the world's largest cryptocurrency exchange.
Prosecutors alleged that Binance's operations facilitated illegal activities, including supporting terrorist groups and the sale of child sexual abuse materials.
The company also received proceeds from ransomware attacks.
Binance agreed to a one dollar 4.32 billion penalty, and Zhao paid a one dollar 50 million criminal fine along with one dollar 50 million to the U.S. Commodity Futures Trading Commission.
Earlier this year, Zhao was sentenced to four months in prison after pleading guilty to violating U.S. anti-money laundering laws at Binance, the world's largest cryptocurrency exchange.
Prosecutors alleged that Binance's operations facilitated illegal activities, including supporting terrorist groups and the sale of child sexual abuse materials.
The company also received proceeds from ransomware attacks.
Binance agreed to a one dollar 4.32 billion penalty, and Zhao paid a one dollar 50 million criminal fine along with one dollar 50 million to the U.S. Commodity Futures Trading Commission.
