Binance founder Zhao Changpeng (CZ) announced on December 9th last year that he would temporarily leave the community for some time. He remained hidden for nearly two months until the recent Chinese New Year, when he once again spoke up to wish everyone a “Happy New Year.”
Background:
Decrypting He Yi: Binance’s Unbreakable “Crypto Queen”! Can the US Department of Justice Bring Her and CZ Down Together?
Table of Contents:
CZ Remains Hidden for Two Months
Attracts Responses from Numerous KOLs
Prosecutors Seek Maximum 10-Year Sentence?
After reaching a $4.3 billion settlement agreement with the US Department of Justice last year, Binance and its founder Zhao Changpeng (CZ) were ordered by a judge to stay in the United States until February 23, 2024, fearing he might flee to the United Arab Emirates (UAE).
During this waiting period before the sentencing, CZ has not posted any articles for nearly two months since his announcement on December 9th last year that he would temporarily leave “X”:
However, on the eve of Chinese New Year, CZ’s long-awaited post celebrated with the wider community.
CZ’s long-awaited post, combined with the timing of the Spring Festival, immediately attracted many KOLs who also wished him a happy new year. Additionally, many people expressed their hopes for his prompt return to the public eye.
With only two weeks left until the court’s sentencing, it is still unknown how long CZ will ultimately be sentenced after pleading guilty to the settlement. However, what is his next plan after stepping down? He previously stated that he would take a break and then continue to provide necessary advice to the Binance team.
Further Reading:
Zhao Changpeng (CZ) Resignation Statement: Richard Teng is the new CEO of Binance! I made a mistake and must take responsibility.
According to previous reports by Dong Qu, legal experts believe CZ may face a sentence of no more than 18 months. However, US prosecutors have also stated that they may seek a maximum sentence of 10 years for Zhao Changpeng.
With less than two weeks remaining until CZ’s sentencing hearing, Dong Qu will continue to track the situation for readers.
Related Reports:
Binance US: Zhao Changpeng (CZ) Resigns as Chairman, Transfers Voting Rights, No Longer Involved in Binance.US Governance
Post-CZ Era: What Changes are Coming to Binance and the Cryptocurrency Market?
Binance’s $4.3 Billion Settlement is Only Ranked Second! A Glimpse at the Top 15 Cryptocurrency Enforcement Actions in the US.