Binance Founder Changpeng Zhao Sentenced to Four Months in Prison – WSJ

Billionaire Changpeng Zhao, founder of Binance, the world’s biggest crypto exchange, was sentenced Tuesday to four months in prison, a lighter punishment than requested by prosecutors who hoped to send a message about crime in the industry.

“You had a responsibility to comply with United States regulations. Not some but all,” U.S. District Judge Richard A. Jones said. “You failed at that opportunity.”

Zhao, 47, pleaded guilty in November to violating U.S. anti-money-laundering requirements. He agreed to step down as Binance’s chief executive. Zhao remains Binance’s majority shareholder.

Source: Binance Founder Changpeng Zhao Sentenced to Four Months in Prison – WSJ