{"id":246308,"date":"2024-02-13T08:13:35","date_gmt":"2024-02-13T02:43:35","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=246308"},"modified":"2024-02-13T08:13:35","modified_gmt":"2024-02-13T02:43:35","slug":"cz-sentencing-postponed-until-end-of-april-report-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/cz-sentencing-postponed-until-end-of-april-report-crypto-news\/","title":{"rendered":"CZ Sentencing Postponed Until End of April: Report – Crypto News"},"content":{"rendered":"
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U.S. prosecutors have postponed the sentencing of Changpeng \u201cCZ\u201d Zhao, the founder of the Binance cryptocurrency exchange, to April 30, CNBC<\/i> reported<\/a> late Monday<\/span>.<\/span><\/p>\n

The former head of the largest cryptocurrency exchange by volume, Zhao was <\/span>charged<\/span><\/a> with money laundering and sanctions violations by the U.S. Department of Justice in November following a years-long investigation. Binance was ordered to pay <\/span>$4.3 billion<\/span><\/a> in penalties and to \u2018completely exit\u2019 the United States.<\/span><\/p>\n

After the DOJ filed charges against CZ, he <\/span>stepped down<\/span><\/a> as the CEO of Binance, handing the reins to <\/span>Richard Teng<\/span><\/a>, who previously served as Binance’s Global Head of Regional Markets.<\/span><\/p>\n

“Richard is a highly qualified leader, and with over three decades of financial services and regulatory experience, he will navigate the company through its next period of growth,” Zhao <\/span>tweeted<\/span><\/a>. “He will ensure Binance delivers on our next phase of security, transparency, compliance, and growth.”<\/span><\/p>\n

Despite being free on a $175 million bond in Seattle, U.S. District Judge Richard Jones imposed travel <\/span>restrictions<\/span><\/a> on the former cryptocurrency exec, preventing Zhao from leaving the United States after prosecutors deemed him a <\/span>flight risk<\/span><\/a>.<\/span><\/p>\n

In December, Binance\u2019s legal team filed several <\/span>documents<\/span><\/a> in federal court that aimed to have the lawsuit by the U.S. Securities and Exchange Commission dismissed.<\/span><\/p>\n

Though Zhao has already paid $50 million in fines, he faces a maximum of <\/span>18 months<\/span><\/a> or a year and a half in federal prison, CNBC<\/i> said.<\/span><\/p>\n

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Stay on top of crypto news, get daily updates in your inbox.<\/h3>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

U.S. prosecutors have postponed the sentencing of Changpeng \u201cCZ\u201d Zhao, the founder of the Binance cryptocurrency exchange, to April 30, CNBC reported late Monday. The former head of the largest cryptocurrency exchange by volume, Zhao was charged with money laundering and sanctions violations by the U.S. Department of Justice in November following a years-long investigation. […]<\/p>\n","protected":false},"author":2,"featured_media":208634,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-246308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/246308","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=246308"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/246308\/revisions"}],"predecessor-version":[{"id":246310,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/246308\/revisions\/246310"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/208634"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=246308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=246308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=246308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}