While Changpeng Zhao is due to be sentenced next Tuesday, the prosecutors in charge of the case have asked for 36 months’ imprisonment.
Prosecutors ask for 36 months imprisonment for Changpeng Zhao
On April 30, Binance founder Changpeng Zhao (CZ) will be sentenced in the case that led him to resign as CEO of the world’s largest cryptocurrency exchange. The exchange and CZ were accused of violating anti-money laundering laws in the United States, and the platform agreed to pay a fine of over $4.3 billion.
For his part, CZ, who had pleaded guilty, had to pay $175 million in bail to remain free until his sentence was confirmed. Regarding the latter, Reuters reported on Tuesday that the prosecutors in charge of the case had requested 36 months’ incarceration, at a hearing in Washington’s Western District Court:
Given the magnitude of Zhao’s deliberate violation of U.S. law and its consequences, a sentence in excess of the 36-month prison guidelines is warranted.
For his part, Changpeng Zhao had already expressed his intention not to appeal if his sentence did not exceed 18 months. So we’ll have to wait until next Tuesday to find out. For the time being, the 36 months are only an indication and may not reflect the final decision.
In the meantime, he continues to develop his new entrepreneurial project, Giggle Academy, which he presented last month. Today, he shared the project’s new logo:
We wanted the @GiggleAcademy logo to show youth, fun, positive energy, and growth. We also want to show respect to our “Binance heritage”.
1. The logo is a child’s face, symbolizing youth.
2. The smiling face is made of the “Gi” characters (rotated 90 degrees counterclockwise),… https://t.co/On781BAi3J– CZ BNB (@cz_binance) April 24, 2024
This logo features several nods to Binance, such as the shape contours composed of 2 superimposed squares, and the choice of colors, although the yellow is a little lighter than the exchange’s.
