After several hours of trial, Judge Richard Jones ultimately sentenced Zhao Changpeng to four months in prison, which is much lower than the previous request from the Department of Justice (prosecutors requested a 36-month sentence).
Background:
CZ’s Sentencing: US Probation Office suggested 5 months of probation, while the Department of Justice requested a 3-year sentence, beware of BNB volatility.
Binance founder Zhao Changpeng (CZ) attended a sentencing hearing at the United States District Court in Seattle on May 1st, Taiwan time (April 30th, US time). After several hours of trial, Judge Richard Jones ultimately sentenced him to four months in prison, which is much lower than the previous request from the Department of Justice (prosecutors requested a 36-month sentence).
The judge, CZ’s defense lawyer, and even the prosecutor all admitted during the 2.5-hour sentencing hearing that this 47-year-old billionaire is not an ordinary criminal defendant. Instead, he is a philanthropist, a do-gooder, a first-time offender, and a family man who turned himself in and accepted whatever consequences may arise.
As for the exact date and location of imprisonment, it will be announced separately by the Bureau of Prisons and the Probation Office, and CZ confirmed in court that he will accept the court’s verdict.
CZ’s Statement in Court:
Basically, although the prosecution repeatedly suggested increasing the sentence in order to achieve a deterrent effect and reflect the severity of the crime, Judge Jones refused multiple times. He also stated that he had read the 161 letters submitted by CZ’s friends and family, and the evidence he saw had mitigating factors.
Of course, the judge also mentioned that as the CEO of Binance, CZ is responsible for not fulfilling the anti-money laundering procedures, as this could have a significant impact on money laundering activities, including drug trafficking and terrorism.
When it was CZ’s turn to make a statement, he admitted without hesitation his past mistakes and expressed that he fully understands the importance of having a sound KYC/AML program. He stated that he has tried to rectify this issue and has instructed Binance to cooperate with the US government.
Bloomberg: If imprisoned, he will become the richest prisoner in US history
According to Bloomberg’s report yesterday, CZ will become the richest prisoner in the history of the US federal prison system. This is because Zhao Changpeng’s ownership of Binance and his personal wealth of approximately $43 billion have not been affected by the case. As Binance’s business continues to grow in the new bull market, his wealth may further increase.
Related Reports
CZ Can Buy a Prison! Bloomberg: If Imprisoned, He Will Become the Richest Prisoner in US History, Worth at Least $43 Billion
CZ’s Sentence: A Big Gamble? Polymarket: 44% Optimistic That Zhao Changpeng Will Only Spend Less Than 6 Months in Prison
The Unknown CZ: Husband, Student, Father, Entrepreneur – 350 Letters of Support Flood the Court