May 1, 2024 11:30 AM

Binance’s former CEO sentenced to four months prison over money laundering violations

Changpeng Zhao, the former chief executive of Binance, was sentenced on Tuesday (April 30) to four months in prison after pleading guilty to violating U.S. money-laundering laws at the world's largest cryptocurrency exchange. The sentence was imposed by U.S. District Judge Richard Jones in Seattle, who rejected prosecutors' request that the 47-year-old Zhao serve a three-year term, twice the maximum recommended under federal guidelines. Once considered the most powerful person in the crypto in...