Binance’s CZ sentencing drama takes centre stage as case delayed until April

Binance’s CZ sentencing drama takes centre stage as case delayed until April
фото показано с : invezz.com

2024-2-14 12:06

The founder of crypto exchange Binance, Changpeng Zhao (CZ), will have to wait longer to hear the outcome of his money laundering case. This happened after a US court notice on Monday postponed the charge until April 30.

Breaking News: U.S. DOJ Reveals That Prosecutors May Argue That CZ Should Be Sentenced To 10 Years In Prison

The U.S. Department of Justice (DOJ) charged ChangPeng Zhao (CZ) with, and CZ pled guilty to, one count of violating the Bank Secrecy Act. The charge stems from a mammoth… pic.twitter.com/gJ5EsB082Q

— John Reed Stark (@JohnReedStark) November 26, 2023

CZ was due for sentencing on February 23 and was expected to face a jail term of up to 18 months. The former Binance CEO is currently out on a $175 million bond and is barred from travelling outside the US.

The Binance founder accepted violating the American anti-money laundering rules while in charge of the exchange he founded. The exchange agreed to pay $4.3 billion, resolving the criminal case with the US Justice Department. CZ was also forced to resign as the CEO of Binance while a personal criminal charge was considered against him.

Could face higher charges of up to 10 years imprisonment

While federal sentencing guidelines stipulate a maximum jail of 18 months for CZ, prosecutors are allegedly considering a harsher sentencing for the former Binance chief. According to the recent DOJ filing, the US is free to argue for any sentence up to an allowed time of ten years.

The stance comes even as the US considers CZ a flight risk. The DOJ differed with an earlier court decision that allowed him to reside in the UAE and only return to the US as the sentencing draws closer. Should the prosecutors consider a harsher sentencing, CZ is expected to stay in US prisons for as much as ten years.

Former US SEC official John Reed differs from the prosecutors’ stance. He says CZ could get a 12-18 month sentence under the sentencing guidelines. Reed also projects that CZ’s legal team may seek an alternative sentence that includes home detention and probation.

The post Binance's CZ sentencing drama takes centre stage as case delayed until April appeared first on Invezz

Similar to Notcoin - Blum - Airdrops In 2024

origin »

pxUSD Synthetic USD Expiring 1 April 2021 (PXUSD_MAR2021) на Currencies.ru

$ 1.1454 (-0.84%)
Объем 24H $0
Изменеия 24h: 7.63 %, 7d: 11.97 %
Cегодня L: $1.1454 - H: $1.1454
Капитализация $0 Rank 3882
Доступно / Всего 0 PXUSD_MAR2021

until binance case april laundering money happened

until binance → Результатов: 107


Binance Bitcoin Reserves Shed $200 Million Amid Ex-CEO’s US Detainment Threat

After the cryptocurrency exchange and its former CEO, Changpeng Zhao, entered a guilty plea to federal charges in the United States, Binance’s Bitcoin reserves were reduced by $200 million. Although CZ has paid his bond, prosecutors are attempting to have him stay in the US until he is sentenced. Based on on-chain data collected by […]

2023-11-24 08:36


Paxos terminates relationship with Binance as it halts BUSD issuance

Paxos has also halted the minting of new BUSD tokens as ordered. Existing BUSD will however remain fully-backed and redeemable via Paxos until at least February 2024 Binance CEO says exchange will continue to support BUSD  Paxos, the blockchain and tokenization platform that also issues the stablecoin Binance USD (BUSD), has announced it is terminating […] The post Paxos terminates relationship with Binance as it halts BUSD issuance appeared first on CoinJournal.

2023-2-13 15:35


Фото:

U.K. Multinational Bank Barclays Blocks All Payments To Binance, Citing Notice From FCA

British banking giant Barclays is prohibiting customers from using their debit and credit cards to make payments to the world’s largest cryptocurrency by trading volume, Binance. Barclays appears to be sending text messages to their customers, informing them that the bank is halting payments to the crypto exchange until further notice, the Financial Times reported. […]

2021-7-6 00:18


Фото:

Binance Coin (BNB) Becomes Third Cryptocurrency With A Branded Emoji On Twitter

The Binance Coin (BNB) is now the third Cryptocurrency to receive a branded emoji. This is coming in shortly after Bitcoin and Crypto.com’s CRO received a branded emoji from the social network. Although crypto-twitter also made a strong appeal for Ethereum, Ethereans might have to exercise patience until the network is ready to take the […]

2020-7-2 20:39


Фото:

Binance Widget Now Available to All Brave Desktop Browser Users,  Enabling Seamless Cryptocurrency Trading and Management

Today’s Brave desktop browser update (version 1. 8) features the Binance widget, the first exchange-browser integration of its kind.  Brave and Binance announced their integration on March 24, and until today a preview version of the widget was featured in Brave’s Nightly and Beta versions for testing.

2020-5-1 19:08