News Explorer — Binance Founder CZ Starts Four-Month Prison Term

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Jun 3, 5:33 pm

Coindesk

Binance Founder CZ Starts Four-Month Prison Term

Binance founder Changpeng "CZ" Zhao has begun serving a four-month prison sentence in California for failing to implement a proper KYC program at the exchange. Zhao, with a net worth of $36.5 billion, is the richest person to go to prison in the U.S. He was also fined $50 million and stepped down as Binance's CEO.

Binance founder Changpeng "CZ" Zhao has begun serving a four-month prison sentence in California for failing to implement a proper KYC program at the exchange. Zhao, with a net worth of $36.5 billion, is the richest person to go to prison in the U.S. He was also fined $50 million and stepped down as Binance's CEO.

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