The founder of Binance, Changpeng Zhao, will go to prison for breaking US anti-money laundering regulations.
The “massive” consequences of his acts led the prosecutors to seek a 4-year sentence; nevertheless, he was only handed four months.
Zhao, who had entered a guilty plea, emphasized his extraordinary cooperation with the police when arguing against jail time.
He has already consented to pay a personal penalty of $50 million as well as a hefty $4.3 billion punishment. [CONTINUE READING HERE]
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