Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»BITCOIN NEWS»Binance founder Changpeng Zhao begins four-month sentence in low-security California prison
BITCOIN NEWS

Binance founder Changpeng Zhao begins four-month sentence in low-security California prison

By Crypto FlexsJune 4, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Binance founder Changpeng Zhao begins four-month sentence in low-security California prison
Share
Facebook Twitter LinkedIn Pinterest Email

join us telegram A channel to stay up to date on breaking news coverage

Binance founder Changpeng Zhao will report to a low-security federal prison in Southern California to begin serving a four-month sentence.

Latest: Former Binance CEO Changpeng Zhao sentenced to 4 months in prison. pic.twitter.com/i1gdlcTWzs

— Bitcoin Magazine (@BitcoinMagazine) April 30, 2024

The former Binance CEO is now the richest person behind bars in the United States. Last April, Forbes named Zhao the richest person in the cryptocurrency industry with a fortune of $33 billion.

Binance founder CZ to serve time in low-security prison

Zhao reported to Lompac II Prison in Southern California, where he will serve his sentence as inmate 88087-510. There are 2,160 inmates in this prison.

Zhao is not the only influential figure to have served time in prison. Also housed there was Reed Slatkin, accused of masterminding one of the largest Ponzi schemes.

Low-security prisons tend to have better conditions than high-security prisons. At Lompac II, inmates can work on a nearby farm, raising animals and growing produce.

Conditions at the Lompoc II facility stand in stark contrast to the New York prison where FTX co-founder Sam Bankman-Fried is serving a 25-year sentence.

Zhao pleaded guilty to failing to implement an anti-money laundering system at Binance. He was sentenced to a $50 million fine and four months in prison.

The prosecution initially requested 36 months in prison, and Attorney Zhao requested 5 months of probation.

CZ is turning over a new leaf

Shortly before sentencing, Zhao wrote a letter to Judge Richard Jones, apologizing for failing to implement appropriate compliance measures at Binance.

In the letter, Zhao noted that he does not want the charges against Binance to be left unresolved and would rather have them resolved in court and start over.

“I wanted to right my wrongs, turn the page, and start the next chapter of my life,” Zhao said.

It is unclear whether Zhao will resume his role with Binance and the cryptocurrency industry, but he has expressed interest in focusing on educational programs and blockchain adoption.

Also read:

PlayDoge (PLAY) – Latest ICO on BNB Chain

playdoji
  • 2D Virtual Doji Pet
  • Play to earn Meme Coin Fusion
  • Staking and in-game token rewards
  • SolidProof Thanks – playdoge.io

playdojiplaydoji


join us telegram A channel to stay up to date on breaking news coverage

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Price prediction of BTC, ETH, XRP, BNB, SOL, DOGE, ADA, Sui, Hype, Link

June 4, 2025

Introduction to Krakeen Prime, a full -service prime brokerage for customer creepto customers

June 4, 2025

Bitcoin Conference 2025, Highlights in Las Vegas

June 3, 2025
Add A Comment

Comments are closed.

Recent Posts

Bitcoin robbery is a trader after market rotation; ETH, DOGE LEAD majors

June 4, 2025

IP cooperation with the original ZEUS artist and trademark holders

June 4, 2025

DOW JONES wins Streak with weak growth and cost increases.

June 4, 2025

NVIDIA Blackwell achieves an improvement of 2.6x performance in MLPERF training v5.0.

June 4, 2025

NVIDIA MLPERF V5.0: Reproduces the educational score for LLM benchmarks

June 4, 2025

Price prediction of BTC, ETH, XRP, BNB, SOL, DOGE, ADA, Sui, Hype, Link

June 4, 2025

Did the Altcoin season end in 2025? Experts think that it was delayed that it was not dead.

June 4, 2025

Checkpoint #3: June 2025 Stats Ether Leeum Foundation Blog

June 4, 2025

Floating Point 8: Low precision AI training innovation

June 4, 2025

Is Ether Lee leading capital rotation to Bitcoin Dominance Falls -Altcoin Rally?

June 4, 2025

Bitcoin (BTC) is faced with market volatility in economic changes.

June 4, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Bitcoin robbery is a trader after market rotation; ETH, DOGE LEAD majors

June 4, 2025

IP cooperation with the original ZEUS artist and trademark holders

June 4, 2025

DOW JONES wins Streak with weak growth and cost increases.

June 4, 2025
Most Popular

The Ethereum validator exit queue surges as Celesius and Figment withdraw their stake.

January 7, 2024

Bitcoin enters the ‘acceleration stage’ similar to the BTC price profit after winning the Trump election.

May 22, 2025

erπ Announcement: Ethereum on Raspberry Pi Program

May 8, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.