US Seeks Three-Year Prison Sentence for Ex-Binance CEO Zhao

Zhao stepped down after US agreement to pay $4.3 billion
Lawyers for Zhao argue in filing that he should get probation

Changpeng Zhao exits federal court in Seattle, Washington, US, on Nov. 21, 2023.Photographer: Chloe Collyer/Bloomberg

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By Emily Nicolle

April 24, 2024 at 6:34 AM UTC

Updated on

April 24, 2024 at 9:14 PM UTC

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The US Department of Justice recommended a 36-month prison sentence for Changpeng Zhao, the former chief executive officer of Binance, the world’s largest crypto exchange.

The sentence “will not just send a message to Zhao but also to the world,” the DOJ wrote in a court filing on Tuesday, adding the price for violating US law “must be significant to effectively punish Zhao for his criminal acts and to deter others.”