Binance’s former CEO gets 4 months for money laundering

By Deborah Bloom / Reuters

April 30, 2024

REUTERS/DEBORAH BLOOM

Binance founder and former chief Changpeng Zhao, who pleaded guilty to violating U.S. law by failing to implement a program to prevent money laundering, arrives for his sentencing in federal district court in Seattle, Washington, today.

SEATTLE >> Changpeng Zhao, the former chief executive of Binance, was sentenced today to four months in prison after pleading guilty to violating U.S. money-laundering laws at the world’s largest cryptocurrency exchange.

The sentence was imposed by U.S. District Judge Richard Jones in Seattle, who rejected prosecutors’ request that the 47-year-old Zhao serve a three-year term.

Once considered the most powerful person in the crypto industry, Zhao, known as “CZ,” will be the second major crypto boss to be sentenced to prison.

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