Cryptocurrencies

Binance Founder Changpeng Zhao Gets Four Months in Prison

Sentence is far below three years requested by US prosecutors
Zhao pleaded guilty in November to violating US banking laws

Changpeng Zhao arrives at federal court in Seattle, Washington, on April 30. — Changpeng Zhao arrives at federal court in Seattle, Washington, on April 30.
Photographer: David Ryder/Bloomberg

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By Ava Benny-Morrison

April 30, 2024 at 7:01 PM UTC

Updated on

May 1, 2024 at 1:21 AM UTC

This article is for subscribers only.

Binance founder Changpeng Zhao was ordered to spend four months in prison for failures that allowed cybercriminals and terrorist groups to freely trade on the world’s largest cryptocurrency exchange.

Zhao, 47, was sentenced Tuesday by US District Judge Richard Jones in Seattle. Dressed in a dark suit with a light blue tie, the billionaire arrived in court flanked by half a dozen lawyers. His mother and sister watched his sentencing from the front row of the courtroom.