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»ADOPTION NEWS»Binance founder CZ begins 4-month prison sentence as Korea’s richest inmate
ADOPTION NEWS

Binance founder CZ begins 4-month prison sentence as Korea’s richest inmate

By Crypto FlexsJune 1, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Binance founder CZ begins 4-month prison sentence as Korea’s richest inmate
Share
Facebook Twitter LinkedIn Pinterest Email
People • June 1, 2024, 11:10 AM EDT

Posted 1 minute ago In ~

Binance founder Changpeng Zhao, also known as CZ, has reported to a low-security California facility to begin his four-month federal prison sentence as America’s richest inmate.

Zhao was sentenced to four months in prison and a personal fine of $50 million in April after pleading guilty in November 2023 to failing to implement adequate anti-money laundering protocols at Binance, the world’s largest cryptocurrency exchange. Binance agreed to pay $4.3 billion in one of the largest monetary settlements in history, sparking mixed reactions from the cryptocurrency community.

Sam Mangel, who works as a federal prison consultant, told The Block in April: “CZ will not likely benefit from the work-time credit program and he is expected to serve 120 days in federal prison.” “Even though he may be uncomfortable, I believe that Zhao will be safe and will not be robbed or put in danger.”

Government records show CZ reported to the Federal Correctional Institution in Lompoc, California, a low-security federal prison located northwest of Los Angeles. FCI Lompoc includes Reed Slatkin, who was convicted of running one of the largest Ponzi schemes in history that primarily targeted Scientologists, and Mossimo Gianulli, who allegedly played a role with his wife, Lori Loughlin, in the college admissions bribery scheme. Several notable prisoners convicted of white-collar crimes were taken into custody. scandal.

Following CZ’s departure, Binance released a blog post highlighting its success and outlining its vision for the future. “We are confident that Binance will emerge as an even stronger company, laying the foundation for the next 50 years,” he wrote.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Gala Games introduces a step -by -step approach to founder node staking.

June 7, 2025

Solana (SOL) introduces Alpenglow for faster blockchain agreement.

June 7, 2025

Vaneck launches GPZ ETF for alternative asset managers.

June 7, 2025
Add A Comment

Comments are closed.

Recent Posts

How does it affect Bitcoin?

June 7, 2025

Gala Games introduces a step -by -step approach to founder node staking.

June 7, 2025

AB starts in binance

June 7, 2025

ETF publisher’s latest warning -SEC’s approval process ‘Innovation, AIDS GIANTS’

June 7, 2025

Solana (SOL) introduces Alpenglow for faster blockchain agreement.

June 7, 2025

The Foresight Ventures report shows a collection shift where more than 32,000 sellers around the world accept encryption.

June 7, 2025

$ AB is live on Binance, guiding the new era of new cross chain asset mobility.

June 7, 2025

Trump memoin is faced with a $ 520m lock in July and the price drops by 85%.

June 7, 2025

Vaneck launches GPZ ETF for alternative asset managers.

June 7, 2025

Apple, X, Airbnb Eye Stablecoin Integration

June 7, 2025

Strategy to raise almost $ 1B by STRD priority proposal for BTC accumulation

June 7, 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

How does it affect Bitcoin?

June 7, 2025

Gala Games introduces a step -by -step approach to founder node staking.

June 7, 2025

AB starts in binance

June 7, 2025
Most Popular

Arweave, ORDI, Monero surge release US pre-inflation data

May 31, 2024

Is it too late to buy MANEKI? Maneki price surges 103% in one week and this DOGE derivative could be the next cryptocurrency to explode.

May 19, 2024

FTX Liquidation: Abandon Relaunch for Redemption

February 1, 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.