Binance founder Changpeng Zhao faces a possible 36 months jail time for violating U.S. laws

Binance founder Changpeng Zhao faces a possible 36 months jail time for violating U.S. laws
фото показано с : invezz.com

2024-4-24 16:37

Yesterday, U.S. prosecutors stated that Binance’s founder Changpeng Zhao should serve a prison sentence of 36 months for pleading guilty to violating laws against money laundering.

Changpeng Zhao’s sentencing

Zhao, also known as CZ, will face his sentence in Seattle on 30 April. He resigned as Binance’s chief in November 2023 after admission of violations by both himself and the exchange. The company agreed to pay a penalty of $4.32 billion for this.

As per federal sentencing guidelines, Zhao faces a maximum prison sentence of 18 months. He has been out on a $ 175 million bond in the U.S. while awaiting his sentence.

Binance’s crimes

According to the U.S. authorities, Binance has neglected to report over 100,000 suspicious transactions involving terrorist groups like ISIS, Hamas and al Qaeda. Prosecutors also claim that Binance helped with the sale of child sexual abuse materials and received a huge portion of ransomware profits.

Zhao has agreed to pay a $50 million fine and discontinue his involvement with the company, which he established in 2017.

Binancec faced a penalty of $1.81-billion criminal fine and $2.51 billion in restitution.

Even after resigning from Binance, Zhao plans to remain involved in the crypto market. In the previous month, Zhao declared a new educational initiative, the Giggle Academy, focusing on cryptocurrency and blockchain, and emphasised that this project will not have any “new tokens”.

The post Binance founder Changpeng Zhao faces a possible 36 months jail time for violating U.S. laws appeared first on Invezz

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Binance Coin (BNB) на Currencies.ru

$ 666.04 (+0.09%)
Объем 24H $1.221b
Изменеия 24h: -0.41 %, 7d: -6.94 %
Cегодня L: $652.14 - H: $668.43
Капитализация $95.915b Rank 5
Доступно / Всего 144.008m BNB

zhao changpeng violating months binance laws sentence

Источник: invezz.com

zhao changpeng → Результатов: 126


Фото:

‘We Don’t List Shitcoins’: Binance CEO Retaliates Over Listing Fee Criticism

Binance CEO Changpeng Zhao rebuffed criticism of the exchange’s listing fees Saturday, saying commentators should concentrate on the quality of coins it chooses to list. ‘Is My Coin Good Enough?’ In a series of Tweets, Zhao took issue with Expanse founder Christopher Franko, who had previously claimed the exchange quoted him 400 BTC ($2,600,000) for listing his altcoin token.

2018-8-11 19:00


Фото:

Binance представила разрабатываемую платформу для децентрализованной биржи

Криптовалютная биржа Binance провела первую презентацию находящейся в разработке платформы децентрализованного обмена (DEX) — Binance Chain. О начале разработки собственного блокчейна, на основе которого затем будет функционировать новая децентрализованная биржа, Binance заявила в марте этого года.

2018-8-10 10:40


Фото:

Binance Unveils Decentralized Exchange Amid Doubts Over Ethos

Major cryptocurrency exchange Binance has revealed a “rough, pre-alpha” demo version of DEX, its own decentralized exchange which could ultimately take over from its current platform. ‘A Big Step’ Introducing a video walkthrough of the exchange, CEO Changpeng Zhao said developers were “very aggressively” on getting a usable product to market.

2018-8-9 18:00


Фото:

Decentralized Apps, Blockchain-based Games and Social Networks to Become Common by 2020, Says Binance CEO

Fans and critics will always have different predictions when it comes to what they think the future could bring to the cryptocurrency industry, and the blockchain technology behind it. But when Changpeng Zhao — the CEO of the world’s largest exchange Binance — shares his views, everyone tends to give it some serious thought.

2018-8-7 18:39


Binance CEO Discusses Bespoke Ledgers, the Future of Cryptocurrency and the Exchange’s Relationship with Coinbase

Blockchain technology, the first successful implementation of the distributed ledger framework and one of the core technologies that support cryptocurrencies like Bitcoin and Ethereum, continues to attract attention from diverse sectors in business, government, technology, and other industries.

2018-8-3 19:08


Глава Binance: безопасность — фундаментальная основа для выживания криптоиндустрии

Генеральный директор криптовалютной биржи Binance Чжао Чанпэна (Zhao Changpeng) считает, что для выживания и дальнейшего развития криптовалютная отрасль должна сосредоточиться на проблеме безопасности.

2018-8-3 13:27


Фото:

Криптобиржа Binance приобрела первую компанию

Криптовалютная биржа Binance приобрела компанию-оператора браузера децентрализованных приложений и криптокошелька Trust Wallet, поддерживающего более 20 тысяч созданных на основе Ethereum токенов. По словам главы криптобиржи Чжао Чанпэна (Zhao Changpeng), теперь у Binance есть решения по хранению цифровых активов как на централизованной, так и на децентрализованной площадках, а пользователи могут на 100% контролировать свои средства. Он не назвал […]

2018-7-31 21:18


Фото:

Криптобиржа Binance намерена выйти на рынок Южной Кореи

Одна из крупнейших в мире криптовалютных бирж Binance вплотную приблизилась к выходу на рынок Южной Кореи, сообщает Business Korea. Генеральный директор Binance Чжао Чанпэн (Zhao Changpeng) в минувшие выходные принял участие в конференции Blockchain Partners Summit, проходившей в Сеуле.

2018-7-24 15:11


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin plummets 9% amidst market jitters and Fed’s hawkish tone

Bitcoin experienced a sharp sell-off on Friday, plummeting 9% as broader investor caution towards risk assets took hold. The cryptocurrency’s dramatic reversal highlights the sensitivity of digital assets to macroeconomic signals and market sentiment, amidst a broader atmosphere of unease across various asset classes.

Could Bitcoin help US reduce its $36 trillion debt burden?

Michael Saylor, Chairman of MicroStrategy and prominent Bitcoin advocate, has proposed a controversial strategy to tackle the United States’ soaring $36 trillion national debt. Speaking in a recent interview, Saylor positioned Bitcoin as a transformative asset that could provide long-term financial security for the nation, much like Manhattan’s historical economic growth. He called for bold […]