Changpeng Zhao, former chief executive officer of Binance, arrives at federal court in Seattle, Washington, US, on Tuesday, April 30, 2024.
Binance's billionaire founder Changpeng Zhao was sentenced to four months in prison on Tuesday, after pleading guilty to charges of enabling money laundering at his crypto exchange.
The sentence in Seattle federal court was significantly less than the three years that federal prosecutors were seeking for Zhao.
In November, Zhao struck a deal with the U.S. government to resolve a multiyear investigation into Binance, the world's largest cryptocurrency exchange.
The action against Binance and its founder was a joint effort by the Department of Justice, the CFTC and the Treasury Department, though the SEC was notably absent.
Persons:
Changpeng Zhao, Binance, Zhao
Organizations:
U.S, Bank, U.S . Securities, Exchange Commission, Commodity Futures Trading Commission, Binance, Department of Justice, CFTC, Treasury Department, SEC
Locations:
Seattle , Washington, US, Seattle, Binance, U.S