Binance co-founder Yi He said the cryptocurrency exchange’s former CEO Changpeng Zhao was in a “positive situation” as he awaits sentencing scheduled for April 30 in the United States.
Zhao’s current presence in the U.S. is “generally peaceful and past regulatory pressures have been anticipated internally,” he said at a Binance China community gathering in Dubai, according to Binance News, a community content aggregator for cryptocurrency exchanges. “She believes that the current situation is the most optimal outcome given the circumstances,” the report said.
His comments come after Zhao. plead guilty At the end of last year, he resigned from his position as CEO after paying a $50 million fine for violating anti-money laundering and sanctions in the United States. His sentencing It is scheduled for April 30th.
Zhao could face up to 18 months in prison, but U.S. prosecutors said Pursuit Long term. Zhao was released after posting $175 million bail. A judge previously denied his request to travel to Dubai.
Binance did not immediately respond to The Block’s request for further comment.
Binance also pleaded guilty to money laundering, conspiracy to conduct an unlicensed money transfer business, and sanctions violations, and agreed to pay a total of $4.3 billion in fines. exchange said in february It has undertaken “significant compliance enhancements” over the past few years to ensure sound know-your-customer processes and anti-money laundering detection.
November, Binance Richard Teng appointed He was appointed chief executive officer after Zhao resigned. Teng, who first joined Binance in 2021 as CEO of Binance Singapore, has held roles including head of MENA before being appointed head of regional markets only in May 2023.
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