Former Binance CEO Changpeng Zhao was sentenced to four months in prison on Tuesday in Seattle after pleading guilty to money laundering charges.

During the sentencing hearing on Tuesday, Zhao apologized and said he wanted to take responsibility for his "mistakes." He also said Binance implemented a Know Your Customer and anti-money laundering program and is cooperating with the government, according to reporting from The Verge.

Prosecutors sought 36 months of imprisonment for Zhao, and said he and his exchange targeted U.S. users and purposefully violated U.S. laws.

"Zhao’s willful violation of U.S. law was no accident or oversight," prosecutors said in their previous sentencing memo. "He made a business decision that violating U.S. law was the best way to attract users, build his …