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Crypto & Web3

Prosecutors Seek Harsher Sentence for Binance Boss

Rary Maharani
Last updated: April 29, 2024 2:19 am
Rary Maharani
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1 Min Read
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  • US prosecutors seek harsher 3-year sentence for ex-Binance CEO Changpeng Zhao.
  • Zhao pleaded guilty, accepted $4.2B penalty over money laundering violations.
  • His launch of free education platform raises reform stance.

Contents
Pushing for bigger punishmentReduced sentence for reformation?

Pushing for bigger punishment

US prosecutors aim to land a heavier 3-year jail sentence on Changpeng Zhao, the former Binance CEO who pleaded guilty to money laundering charges, overriding typical 18-month guidelines.

Zhao resigned and agreed to pay a whopping $4.2 billion penalty after Binance ignored over 100,000 potentially fraudulent transactions linked to terror groups and facilitating child exploitation.

Reduced sentence for reformation?

While out on a $175 million bond awaiting sentencing on April 30, Zhao launched Giggle Academy, offering free online classes in math, science, and finance – an intriguing pivot amid his legal troubles.

As the disgraced founder attempts to reshape his legacy through education, the question remains whether this philanthropic shift could sway judges toward a more lenient punishment.

To read the original article: https://www.techinasia.com/binance-founder-jailed-36-months-prosecturos

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