{"id":21766,"date":"2024-06-01T14:00:43","date_gmt":"2024-06-01T11:00:43","guid":{"rendered":"https:\/\/coinengineer.io\/?p=21766"},"modified":"2024-06-01T13:50:34","modified_gmt":"2024-06-01T10:50:34","slug":"changpeng-zhao-founder-of-binance-surrenders-to-prison","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/changpeng-zhao-founder-of-binance-surrenders-to-prison\/","title":{"rendered":"Changpeng Zhao: Founder of Binance Surrenders to Prison"},"content":{"rendered":"<p>Breaking news reports indicate that Binance founder <strong>Changpeng Zhao<\/strong> turned himself in to a low-security prison in California.<\/p>\n<p>The billionaire <a href=\"https:\/\/www.binance.com\/en\/square\/post\/7503455023569#:~:text=Binance%20Founder%20Changpeng%20Zhao%20Sentenced%20to%20Four%20Months%20in%20Prison,-LIVE&amp;text=A%20Seattle%20court%20sentenced%20Changpeng,to%20breaking%20the%20law%20himself.\">founder of Binance<\/a>, <strong>Changpeng Zhao<\/strong>, has turned himself in to a low-security federal jail in Lompoc, California. His defense team at Latham &amp; Watkins verified that the former CEO of the biggest bitcoin exchange is currently incarcerated.<\/p>\n<p><span style=\"color: #0000ff\"><em>Related:<a style=\"color: #0000ff\" href=\"https:\/\/coinengineer.net\/blog\/from-prison-to-author-czs-book-in-the-works\/\"> From Prison to Author? CZ\u2019s Book in the Works<\/a><\/em><\/span><\/p>\n<p>April saw <strong>Zhao<\/strong> sentenced to four months in prison following a guilty plea to a charge of assisting money laundering at the cryptocurrency exchange. The term was much shorter than the three years federal prosecutors had first requested for him. While sentencing rules advised a prison term of between 12 and 18 months, the defense had sought five months of supervised release.<\/p>\n<p>Before receiving his sentence, <strong>Changpeng Zhao<\/strong> expressed remorse to US District Judge Richard Jones. \u201c<em>I&#8217;m sorry<\/em>,\u201d <strong>Zhao<\/strong> said, according to Reuters. <em>\u201cI believe the first step in taking responsibility is to fully acknowledge mistakes. I failed to implement an adequate anti-money laundering program here. I now realize the seriousness of this mistake,\u201d<\/em> he said in court.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breaking news reports indicate that Binance founder Changpeng Zhao turned himself in to a low-security prison in California. The billionaire founder of Binance, Changpeng Zhao, has turned himself in to a low-security federal jail in Lompoc, California. His defense team at Latham &amp; Watkins verified that the former CEO of the biggest bitcoin exchange is<\/p>\n","protected":false},"author":6,"featured_media":21769,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[22,1809,23],"class_list":["post-21766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance","tag-changpeng-zhao","tag-cz"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Changpeng Zhao: Founder of Binance Surrenders to Prison - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Binance founder Changpeng Zhao begins a four-month prison term in California for aiding money laundering, following a guilty plea in April.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/changpeng-zhao-founder-of-binance-surrenders-to-prison\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Changpeng Zhao: Founder of Binance Surrenders to Prison - 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