Binance Founder CZ Reports to Low-Security California Prison
- Changpeng Zhao sentenced in April for violating banking laws
- Zhao to serve 4-month term at Santa Barbara county facility
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Binance founder Changpeng Zhao has reported to a federal prison in California to begin a four-month sentence for failing to safeguard the world’s largest crypto exchange against money laundering.
The former chief executive officer, the richest person to do time in a US federal lock up, will serve his punishment at Lompoc II, a low-security facility with an adjacent satellite camp in Santa Barbara county.