The US Department of Justice is seeking a three-year jail term for Binance founder Changpeng Zhao.
The US Department of Justice (DOJ) has recommended that former Binance founder Changpeng Zhao serve a 36-month prison sentence for his legal violations, according to a court filing. This follows Binance’s guilty plea in November 2023 that led to $4.3 billion in penalties as well as Zhao’s guilty plea resulting in him stepping down as CEO.
«The sentence will not just send a message to Zhao but also to the world,» the DOJ said. «Zhao reaped vast rewards for his violation of US law, and the price of that violation must be significant to effectively punish Zhao for his criminal acts and deter others who are tempted to build fortunes and business empires by breaking US law.»
