Binance Co-Founder Zhao Sentenced to Four Months in Prison
The sentence was below the three-year prison time that prosecutors had asked for.
Changpeng Zhao, the co-founder and former CEO of Binance, the world’s largest crypto exchange, was sentenced to four months in prison by a judge in a Seattle federal court Tuesday.
Binance and Zhao, 47, pleaded guilty last November to violating anti-money laundering laws and the company agreed to pay a $4.3 billion penalty. The sentence was shorter than the three-year prison time that prosecutors had asked for. Lawyers for Zhao had sought probation instead of jail time.