Binance Founder Changpeng Zhao to Appear in Court Today for Sentencing
Published
Prosecutors want him behind bars for three years, but his defense argued for no prison time at all.
By Matt BrienenThe former crypto executive pleaded guilty to one count of violating the Bank Secrecy Act last November, a charge which might normally carry up to 10 years in prison. Because of his guilty plea and his cooperation, the sentencing guidelines calculation for his sentence would actually fall to about 18 months. A presentence report filed by the court's Probation Office recommended he spend just five months.
Former Binance CEO Changpeng “CZ” Zhao's sentencing hearing will take place on Tuesday, giving both the U.S. Department of Justice and his defense attorneys a chance to argue over how much prison time he should serve after pleading guilty to one count of violating the Bank…
— CoinDesk (@CoinDesk) April 29, 2024
Both the U.S. Department of Justice and his defense team have advanced vastly differing recommendations: The DOJ asked a federal judge to sentence Zhao to three years in prison, twice what was laid out in his plea agreement. His defense, on the other hand, asked for no prison time, suggesting he be sentenced to house arrest and probation instead.