Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»US DOJ sentences Binance founder Changpeng Zhao to 36 months in prison
ADOPTION NEWS

US DOJ sentences Binance founder Changpeng Zhao to 36 months in prison

By Crypto FlexsApril 24, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
US DOJ sentences Binance founder Changpeng Zhao to 36 months in prison
Share
Facebook Twitter LinkedIn Pinterest Email

Posted 1 minute ago In ~

Updated: April 24, 2024, 3:58 AM EDT

U.S. prosecutors filed Tuesday seeking a 36-month prison sentence for Binance founder and former CEO Changpeng Zhao.

“Zhao’s intentional violation of U.S. law was neither accidental nor a mistake,” the Justice Department said. filing. “He made the business decision that breaking U.S. law was the best way to attract users, establish a company, and line his pockets.”

The DOJ added, “The United States recommends that the court impose a sentence of 36 months in prison, which is higher than the guidelines.”

Zhao’s defense committee soon responded to the DOJ’s recommendation by submitting its own sentencing memorandum. The court requested that he be sentenced to probation.

“Mr. Zhao paid a hefty fine. He instructed the company to plead guilty before doing so.
Zhao’s legal team said it was “working with the courts and three federal agencies to resolve the related civil charges,” and added, “These factors strongly support leniency.”

November, Zhao plead guilty The United States agreed to a $50 million fine for anti-money laundering and sanctions violations. He stepped down from his position as CEO. Binance agreed to pay $4.3 billion in one of the largest corporate settlements in history.

Zhao’s sentencing is scheduled for April 30, but the former Binance CEO remained free after posting $175 million bail. A judge previously denied his request to travel to Dubai.

Binance appointed Richard Teng as its new CEO following Zhao’s departure.

Added update to include sentencing memorandum submitted on Zhao’s behalf.


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.

About the author

Timmy Shen is The Block’s Asia editor. Previously, he spent more than three years in Beijing covering finance, entertainment business and current affairs at Caixin Global and Chinese technology at TechNode, before writing about cryptocurrencies and Web3 for Taiwan’s Forkast.News. His reporting on China has also appeared in The Guardian. When he’s not chasing headlines, he can be found sampling hotpot and shabu shabu at local Taipei restaurants. Timmy holds a master’s degree from Columbia University’s Graduate School of Journalism. Send your tips to (email protected) or contact us on X/Telegram @timmyhmshen.

Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He previously worked as a reporter for Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor’s degree in Journalism and Business Marketing from the University of Hong Kong.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ether Lee (ETH) tests major support for $ 4,453 after the highest rejection.

August 31, 2025

Bitcoin analysts bet on $ 200K after hints of Fed.

August 23, 2025

‘Self -transactions, dressed in capital layout’: The cryptocurrency financial craze divides the industry.

August 15, 2025
Add A Comment

Comments are closed.

Recent Posts

GBC Mining Launches Scalable Cloud Mining Plans, Enabling Passive Income For Global Crypto Enthusiasts

September 6, 2025

The 320K holder of the WAVERS & Cardano Price Surges Surges BlockDag signals the next large encryption.

September 6, 2025

RLUSD Stablecoin is extended to Africa to supply power to the border between the border.

September 5, 2025

Bybit Establishes New B2B Unit To Drive Institutional Adoption Of Digital Assets

September 5, 2025

Lowkick Studio Launches $SHARDS Token On Top Tier Exchanges For WorldShards MMORPG

September 5, 2025

The cryptocurrency is falling when the tokens and stocks connected to Trump are under pressure.

September 5, 2025

Cango Inc. Reports Second Quarter 2025 Unaudited Financial Results

September 5, 2025

Coindesk July 2025 Report: Stablecoins and CBDC

September 5, 2025

NOWPayments To Participate In SiGMA Europe Rome 2025

September 4, 2025

Web3 Enabler Announces Blockchain Payments V3.1 At Northeast Dreamin In Boston

September 4, 2025

Is XRP The Dark Horse Of The Cryptocurrency World? Earn 652 XRP Daily Using Invro Mining’s Smart Contract

September 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

GBC Mining Launches Scalable Cloud Mining Plans, Enabling Passive Income For Global Crypto Enthusiasts

September 6, 2025

The 320K holder of the WAVERS & Cardano Price Surges Surges BlockDag signals the next large encryption.

September 6, 2025

RLUSD Stablecoin is extended to Africa to supply power to the border between the border.

September 5, 2025
Most Popular

DeeStream Presale Recruits Litecoin and Solana Holders

February 2, 2024

What does BNB price mean?

May 13, 2024

Understanding Bitcoin Keys: Bip39 Seed Words

March 11, 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.