<\/p>\n
The verdict in Changpeng Zhao\u2019s court battle with the United States government will be delayed, according to a notice filed in a Seattle court.<\/p>\n
CZ, who pleaded guilty to violations of AML procedures, was allowed to remain out of custody until his sentencing in exchange for a bail bond<\/a> of $175 million. A further $15 million was deposited into a trust account to be confiscated in case the terms of his bail were breached.<\/p>\n Zhao was also required to pay a fine of $50 million, while the exchange he previously ran suffered a fine of $4.3 billion. He has since stepped down as CEO.<\/p>\n Binance\u2019s former CEO was originally supposed to face the court\u2019s verdict<\/a> later this month.<\/p>\n However, the court\u2019s deliberation will only come to an end on the 30th of April. A document informing the public of the postponed sentencing was published on the 12th of February, according<\/a> to CNBC. Zhao\u2019s lawyer also declined to comment on the matter due to privacy concerns.<\/p>\n Unfortunately for CZ, this decision will also keep him apart from his family, who resides in Dubai, for a while longer. Binance\u2019s former CEO had previously requested permission to travel there, citing the hospitalization and approaching surgery of a family member. Although he offered the entirety of his equity in Binance as a guarantee that he would return to the U.S., the request was still turned down.<\/p>\n \u201cThe defense claims that Mr. Zhao faces merely a \u201cbrief\u201d sentence and has no incentive to flee. The reality is that the top-end of the Guidelines range may be as high as 18 months, and the United States is free to argue for any sentence up to the statutory maximum of ten years.\u201d<\/p>\n<\/blockquote>\n Harsher punishments have reportedly been argued for by the prosecution<\/a>. Treasury Secretary Janet Yellen also commented on the sentencing, accusing CZ of allowing some of the worst criminals around to flout sanctions.<\/p>\n \u201cBinance was allowing illicit actors to transact freely, supporting activities from CSAM to illegal narcotics to terrorism.\u201d<\/p>\n<\/blockquote>\n However, the defense has argued that Binance\u2019s faults in the AML department were simply due to oversight and a lack of prioritization.<\/p>\n The exchange also has a good track record when it comes to assisting law enforcement with tracking down cybercriminals attempting to use Binance\u2019s services, often freezing funds before being asked to.<\/p>\n Coupled with the fact that Zhao willfully entered a plea deal and has cooperated with the authorities to the best of his abilities, it\u2019s unlikely that the prosecution\u2019s wishes will be granted. In fact, jail time may still be avoided altogether if the defense plays its cards right.<\/p>\n <\/p><\/div>\n","protected":false},"excerpt":{"rendered":" The verdict in Changpeng Zhao\u2019s court battle with the United States government will be delayed, according to a notice filed in a Seattle court. CZ, who pleaded guilty to violations of AML procedures, was allowed to remain out of custody until his sentencing in exchange for a bail bond of $175 million. A further $15 […]<\/p>\n","protected":false},"author":2,"featured_media":36794,"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-246427","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\/246427","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=246427"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/246427\/revisions"}],"predecessor-version":[{"id":246429,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/246427\/revisions\/246429"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/36794"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=246427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=246427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=246427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Two Month Delay<\/h2>\n
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Prosecution May Argue for Harsher Sentencing<\/h2>\n
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\nBinance Free $100 (Exclusive): Use this link<\/a> to register and receive $100 free and 10% off fees on Binance Futures first month<\/b> (terms<\/a>).<\/div>\n<\/div>\n