Binance ex-CEO Changpeng Zhao begins prison sentence in California

Binance’s billionaire founder Changpeng Zhao has reported to a low-security federal prison in Lompoc, California, according to the Bureau of Prisons website.

Zhao was sentenced to four months in prison in April after pleading guilty to charges of enabling money laundering at his crypto exchange.

The sentence handed down to the former Binance chief was significantly less than the three years that federal prosecutors had been seeking for him. The defense had asked for five months of probation. The sentencing guidelines called for a prison term of 12 to 18 months.

When asked for confirmation of his prison location, Zhao’s defense team at Latham and Watkins pointed to the Bureau of Prisons website.

Source: Binance ex-CEO Changpeng Zhao begins prison sentence in California