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News Explorer — Former Binance CEO ‘CZ’ Zhao Sentenced to Four Months in Prison

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Apr 30, 7:02 pm
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Former Binance CEO ‘CZ’ Zhao Sentenced to Four Months in Prison

Former Binance CEO Changpeng "CZ" Zhao has been sentenced to four months in prison for money laundering violations. Zhao, who founded Binance in 2017, was forced to step down from the company last November as part of a $4.3 billion settlement with U.S. law officials. The U.S. Justice Department accused Zhao of prioritizing Binance's growth over compliance with financial rules, allowing funds linked to virtual theft and terrorism to flow through the exchange undetected.

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