Binance co-founder Zhao set to keep on growing his $33 billion fortune even as he heads to prison for four months [CNBC]
Coinbase Global, Inc. - Class A (COIN)
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Source: CNBC
wealth remain intact and likely continue to climb even as he faces time behind bars after his sentencing in a Seattle court. Zhao, who is commonly referred to as “CZ” in crypto circles, was sentenced to four months in prison on Tuesday, after pleading guilty to charges of enabling money laundering at his crypto exchange. The sentence handed down to Zhao in Seattle federal court was significantly less than the three years that federal prosecutors had been seeking for him . The defense had asked for five months of probation. Sentencing guidelines called for a prison term of 12 to 18 months. A Binance spokesperson said in a statement to CNBC the crypto exchange has made “considerable compliance enhancements,” including with regards to anti-money laundering detection and “hiring key compliance personnel.” A lawyer for Zhao did not immediately respond to CNBC's request for comment. In November , Zhao struck a deal with the U.S. government to resolve a multiyear investigation into
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COIN
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- 5/20/24 - Form 144
- 5/20/24 - Form 144
- COIN's page on the SEC website