Binance founder and former CEO Changpeng Zhao was released from prison two days ahead of schedule after serving a four-month sentence in the U.S.
Originally set for release on September 29, Zhao was let out early due to federal rules regarding weekend releases, according to Bloomberg.
Zhao, 47, began his sentence in May 2024 after being indicted for failing to enforce proper anti-money laundering (AML) and sanctions regulations at Binance. He received a lighter sentence than the three years sought by the U.S. Department of Justice.
In November 2023, both Zhao and Binance pleaded guilty to violating U.S. AML and sanctions laws, including processing transactions for sanctioned countries like Iran and Cuba. As part of his plea deal, Binance agreed to pay $4.3 billion in fines, and Zhao personally paid $50 million.
He also stepped down as CEO and is prohibited from managing the company moving forward, though the exact restrictions remain unspecified.
Image Credit: Pixabay
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