Former CEO CZ is currently facing a maximum sentence of 10 years in prison. However, under a plea deal, he is expected to receive no more than 18 months, seemingly protecting him from the harsh sentences faced by other prominent figures in the cryptocurrency industry. The Justice Department has not yet announced the length of the sentence it will recommend.
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A federal judge in Seattle had decided in late November not to allow CZ (Changpeng Zhao) to return to his home in the United Arab Emirates for now. Zhao’s sentencing is scheduled to be announced on February 23rd.
Binance exchange had agreed to a settlement with U.S. authorities, accepting Zhao’s resignation as CEO and agreeing to pay a $4.3 billion fine. Many experts, however, consider this a favorable deal for the company, believing that they have now eliminated the regulatory threat at a relatively low cost.

