US DOJ seeks 36 months’ imprisonment for Binance founder Changpeng Zhao | Headlines | News | CoinMarketCap

04/24/2024 13:30
US DOJ seeks 36 months’ imprisonment for Binance founder Changpeng Zhao | Headlines | News | CoinMarketCap

U.S. prosecutors are seeking 36 months of imprisonment for Changpeng Zhao, founder and former chief executive of Binance, according to a Tuesday …

U.S. prosecutors are seeking 36 months of imprisonment for Changpeng Zhao, founder and former chief executive of Binance, according to a Tuesday filing.

“Zhao’s willful violation of U.S. law was no accident or oversight,” the Department of Justice said in the filing. “He made a business decision that violating U.S. law was the best way to attract users, build his company, and line his pockets.”

“The United States recommends that the Court impose an above-Guidelines sentence of 36 months of imprisonment,” the DOJ added.

In November, Zhao pleaded guilty in the U.S. to anti-money laundering and sanctions violations, and has agreed to pay a $50 million fine and stepped down from his chief executive post. Binance agreed to pay $4.3 billion in one of the largest corporate …

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