4 Months Later: Changpeng
Zhao Released From Custody, BNB Climbs Above $
600
4 Months Later: Changpeng Zhao Released From Custody, BNB Climbs Above $600
Author: Jordan Lyanchev
Last Updated Sep 28, 2024 @ 06:29
BNB has been steadily climbing in the past few days and sit above $600 now.
Changpeng Zhao, the founder and former CEO of the world s largest
cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта exchange, has served his four-month prison sentence and has
been released from custody as of Friday.
Although he has stepped down as the chief executive of Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance, he is still
the largest stakeholder.
Recall the events that took place almost a year ago when the US Department of
Justice announced a massive $4.3 billion settlement with the then-CZ-led
exchange.
This came after years of investigations from different entities, and Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance,
as well as its founder, pled guilty to willfully floundering the Bank Secrecy
Act.
Zhao s guild plea was for failing to implement a strong anti-money
laundering (AML) program. He had to step down as the CEO of Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance and paid a
$50 million penalty.
In late April, CZ was also slapped with a four-month prison sentence, which
was a lot less than the requested three years. At the time, he said :
“I will do my time, conclude this phase, and focus on the next chapter of my
life (education). I will remain a passive investor (and holder) in crypto. Our
industry has entered a new phase. Compliance is super important. A silver
lining of this whole process is that Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance has been under the microscope.
And funds are SAFU. Protect users!”
His sentence was supposed to end on September 29, but because it falls on a
Sunday, he was released on the last working day before the weekend
Friday.
Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance s native token performed well during this week when CZ was
supposed to be released. It s up by 6% on a seven-day scale and sits
well above $600. According to some reports , Zhao still owns about 64% of
BNB s total supply.
CZ has said before that he already has ideas of what to do upon his release
from prison. Called Giggle Academy , the project will aim to provide free
education in a gamified and adaptive manner.
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Tags: Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance Binance Coin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance (BNB) Price Changpeng Zhao (CZ Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance)