Binance founder Changpeng Zhao sentenced to four months in prison for money laundering case.
Changpeng Zhao, the former CEO of Binance, was sentenced on Tuesday to four months in prison after pleading guilty to violating the US laws against money laundering at the world’s largest cryptocurrency exchange, reported Reuters.
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Once considered the most powerful crypto industry figure, Zhao, known as “CZ,” is the second major crypto boss to be sentenced to prison after FTX’s Sam Bankman-Fried.
