Zhao Changpeng, founder of the largest cryptocurrency exchange Binance, was sentenced to four months in prison in federal court in Seattle for crimes related to money transfers without proper licenses. This information was reported by the TV channel. MSNBC.
Zhao’s sentence was much less than the three-year prison sentence requested by prosecutors. The businessman’s defense insisted on a five-month trial period.
Last November, Zhao reached a settlement with the US government, ending a long-term investigation into Binance. According to the settlement agreement, the founder of the largest crypto exchange resigned as CEO and agreed to pay a $50 million fine.
Bitcoin rate before fallen It reached March values.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.