{"id":293158,"date":"2024-05-01T01:48:08","date_gmt":"2024-04-30T20:18:08","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=293158"},"modified":"2024-05-01T01:48:08","modified_gmt":"2024-04-30T20:18:08","slug":"binance-founder-changpeng-zhao-gets-4-month-prison-sentence-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/binance-founder-changpeng-zhao-gets-4-month-prison-sentence-crypto-news\/","title":{"rendered":"Binance Founder Changpeng Zhao Gets 4-Month Prison Sentence – Crypto News"},"content":{"rendered":"

<\/p>\n

In Nov. 2023, the executive pleaded guilty to violating the Bank Secrecy Act.<\/p>\n

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Binance founder Changpeng Zhao (CZ) was sentenced today by a Seattle court to four months in jail for violating the Bank Secrecy Act.<\/p>\n

The four-month sentence is well below the 36 months requested by the Department of Justice \u2013 alleging<\/a> the \u201cscope and ramifications of Zhao\u2019s conduct were massive\u201d \u2013 and the 18 months laid out in Zhao\u2019s previous plea agreement.<\/p>\n

Binance\u2019s native token, BNB, dropped 3.4% to $569. Today\u2019s decline appears to be attributable to general market volatility, and not related to the sentencing.<\/p>\n

BNB Price<\/figcaption><\/figure>\n

Seattle federal judge Richard Jones also slapped CZ with a $50 million fine. The former Binance CEO’s wealth is estimated a $33 billion<\/a>.<\/p>\n

Zhao\u2019s company, Binance, is the largest crypto exchange in the world, processing $21 billion in 24-hour volume. He was forced to step down when the firm had to pay a $4.3 billion fine<\/a> last year to the U.S. government for violating anti-money laundering laws.<\/p>\n

The founder\u2019s personal testimony in court expressed<\/a> remorse for his involvement in \u201chis mistakes\u201d while he led Binance.<\/p>\n

CZ\u2019s sentence follows those of Sam Bankman-Fried and Do Kwon, marking yet another incarceration for some of crypto\u2019s most influential figures.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

In Nov. 2023, the executive pleaded guilty to violating the Bank Secrecy Act. Binance founder Changpeng Zhao (CZ) was sentenced today by a Seattle court to four months in jail for violating the Bank Secrecy Act. The four-month sentence is well below the 36 months requested by the Department of Justice \u2013 alleging the \u201cscope […]<\/p>\n","protected":false},"author":2,"featured_media":293159,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-293158","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/293158","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=293158"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/293158\/revisions"}],"predecessor-version":[{"id":293161,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/293158\/revisions\/293161"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/293159"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=293158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=293158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=293158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}