Ramazan Eles 
Binance founder and former CEO Changpeng Zhao (CZ) has made his first statement after being sentenced to prison.
According to Bloomberg, Changpeng Zhao (CZ), who has a fortune of over $40 billion, will be the richest person to go to federal prison in the US.
Zhao was sentenced to four months in prison for violating US money laundering and sanctions laws.
The US Department of Justice had recommended that the Binance founder be sentenced to three years in prison. A former Binance executive commented on social media:
“I witnessed CZ build the executive team around him in 2021 to prepare Binance for global regulation. Judge Jones made a fair decision considering CZ’s missteps and efforts to rectify past mistakes.”
The Binance founder “thanked everyone for their interest and support” and said he would “remain a passive crypto investor.”
Zhao said that the cryptocurrency industry was entering a new era and emphasized the importance of “regulatory compliance” at this stage.