Binance founder Zhao Changpeng (CZ) was sentenced to 4 months in prison in early May. The latest news confirms that he has reported to a federal prison in California, USA.
(Brief summary:
Good news! Binance’s Zhao Changpeng sentenced to only 4 months in prison. What did CZ say in court?
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(Background information:
Zhao Changpeng (CZ): Thank you all for your concern and support. After serving the sentence, I will focus on the next chapter of my life.
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Table of Contents:
Why did the judge give a light sentence?
Compensation amount and active cooperation
Extensive support letters
No criminal history
Binance founder Zhao Changpeng (CZ) attended a sentencing hearing in the United States District Court for the Western District of Washington on May 1st (April 30th in the United States). After several hours of deliberation, Judge Richard Jones ultimately sentenced him to 4 months in prison, much lower than the previous request from the Department of Justice (prosecutors requested a sentence of 36 months).
According to CNBC this morning, the latest news confirms that Zhao Changpeng has reported to a federal prison in California with a lower security level. His defense law firm, Latham & Watkins, has also confirmed this information. This means that CZ is expected to be released in October this year and start a new chapter of his life.
Why did the judge give a sentence of only 4 months instead of the 36 months requested by the prosecutor? Detailed analysis of court documents on social media reveals three key factors that played a decisive role in this sentence.
First, CZ’s voluntary surrender was one of the main reasons for the lenient sentence. It is worth mentioning that CZ voluntarily went to the United States for trial from the United Arab Emirates, a country without an extradition treaty. This behavior was emphasized multiple times by his defense lawyers during the trial and was repeatedly mentioned in the 161 support letters, demonstrating his sense of responsibility and respect for US law. The attitude displayed was “cooperation, cooperation, cooperation.”
Secondly, CZ’s relatively low-key personal life played a role in shaping his image as a “family man” in court. He actually has a son who is currently attending university, and during the sentencing hearing, his son sat next to his mother and nephew, creating a family scene that portrayed him as a responsible family man.
Furthermore, the agreement reached by Binance, represented by CZ, to pay a one-time compensation of up to $4.3 billion was a key factor in quickly reaching a settlement and receiving a lenient sentence. This compensation not only acknowledges his wrongdoing but also demonstrates his willingness to “fully cooperate” with the US government.
In addition, the impact of the support letters should not be underestimated. Among the 161 letters, many come from important groups and individuals in the United States who wish to collaborate with him, including representatives of the United Arab Emirates’ royal family and elites from various sectors in the United States. These letters not only support CZ but also emphasize his positive attitude towards family, career, and reputation, which had a significant impact on the judge’s decision.
During the trial, Judge Jones expressed a deep impression of the numerous letters supporting CZ. He mentioned that he spent a weekend carefully reading these letters from friends and family until the folder containing the letters broke due to multiple readings. The judge stated:
In addition, CZ’s body language during the sentencing process sparked discussion. Whenever the judge mentioned CZ’s misconduct, he would lean forward and nod, clearly indicating his recognition of his behavior. This stands in stark contrast to the case of SBF, as revealed by the judge. According to the judge, SBF’s behavior indicates a complete lack of remorse for his actions.
CZ’s clean record and past cooperation with the government also greatly worked in his favor. Defense attorney William Burke pointed out that CZ has “no criminal history, no fraud, no other crimes,” which had an important impact on the judge’s decision.
Taking all the above factors into consideration, the judge chose to give CZ a lenient sentence. This also reflects the court’s evaluation of the defendant’s behavior and background, considering not only his negligence but also his efforts to make amends and the positive support he has received from society.
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