Tag: CZ

CZ’s Trial Proves it Pays to Cooperate

The sentence is more than CZ’s lawyers had asked for (they were bargaining for house arrest at most), but less than both the official sentencing guidelines (around one year) and what U.S. Department of Justice prosecutors sought (36 months). We don’t know exactly why CZ received the sentence he did. But it’s notable that, instead of fighting extradition, CZ willingly…

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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…

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How ‘Good Guy’ Reputation Secured Binance’s CZ a 4-Month Prison Sentence

The judge, CZ’s defense lawyers and even prosecutors acknowledged during the 2 1/2 hour sentencing hearing that this 47-year-old billionaire was not your run-of-the-mill criminal defendant. Instead, he was a philanthropist, a do-gooder, a first-time lawbreaker and family man who turned himself in to accept whatever may come. This unexpected resuscitation of the crypto kingpin’s reputation factored into his fate:…

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Binance’s Founder Plans a Comeback Even as He Faces Prison Time – The New York Times

He enjoyed a home-cooked dinner in Montana with a former U.S. senator. He visited Telluride, Colo., and Moab, Utah, a vacation spot known for its national parks. And he chatted about start-ups with Sam Altman, the chief executive of OpenAI. After pleading guilty to a money-laundering violation in November, Changpeng Zhao, the founder of the cryptocurrency exchange Binance, did not…

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