deposit 5000
slot deposit 5000
slot gacor situs toto
togel online
toto 4d
situs slot toto 4ddemo slot gacorslot 88
slot gacor slot gacor
slot gacor
brenjitu
slot gacor
situs toto
situs toto
SITUS TOTO
situs toto
TOTO 4D
SITUS TOTO 4D
SLOT GACOR
https://booking.embuni.ac.ke/live-draw-sydney-hongkong
TOTO 4D
toto togel
slot online
slot gacor
slot gacor
slot pulsa
hongkong lotto
slot gacor
brenjitu
slot pragmatic
situs bola
situs gacor
situs toto
situs slot gacor
slot 4d

Ex-Binance CEO sentenced to four months in jail

Alex Omenye
Alex Omenye

The founder of Binance, Changpeng Zhao, has been sentenced to four months in a U.S. prison.

This verdict came after Zhao pleaded guilty to charges related to money laundering, marking one of the most high-profile cases in the crypto world since the incarceration of Sam Bankman-Fried.

Acknowledging Zhao’s acknowledgment of his misdeeds, U.S. District Judge Richard A. Jones credited the former CEO of Binance for taking responsibility for his actions.

Zhao, a Canadian national aged 47, had admitted guilt to one count of failing to maintain an anti-money-laundering program back in November. This confession led to Binance agreeing to a staggering $4.3 billion settlement with the U.S. government, thereby resolving related allegations.

During the court proceedings, Zhao expressed remorse, stating, “I failed here. I deeply regret my failure, and I am sorry.” Despite this display of contrition, Judge Jones voiced concern over Zhao’s decision to disregard U.S. banking regulations, a move that fueled Binance’s meteoric growth trajectory.

Prosecutors revealed that Zhao had instructed his employees to adopt a stance of “Better to ask for forgiveness than permission” regarding the company’s approach to U.S. law.

Following the legal fallout, Changpeng Zhao relinquished his position as the head of the world’s largest cryptocurrency exchange platform towards the end of the previous year, as part of a negotiated settlement with U.S. authorities.

Investigations conducted by two Treasury agencies had unearthed Binance’s failure to prevent transactions linked to entities such as the Islamic State group, al-Qaeda, or the armed wing of Hamas.

With Zhao admitting guilt to violating U.S. anti-money laundering laws and Binance agreeing to the hefty settlement in February, prosecutors sought a three-year prison sentence, a departure from the typical probation that such crimes attract.

The U.S. Department of Justice described Zhao’s actions as a strategic business decision to flout U.S. laws, viewing it as a means to bolster user acquisition, company growth, and personal wealth.

The sentencing memorandum emphasized that the verdict would not only serve as a message to Zhao but also resonate across the global financial landscape.

Notably, the downfall of Binance’s primary rival exchange, FTX, in November 2022, coupled with criminal charges against industry executives, further exacerbated the industry’s woes. This period of upheaval saw investors withdraw funds from crypto assets, causing widespread concern.

Despite the setbacks, the crypto industry staged a recovery in recent months, partly attributable to U.S. regulators greenlighting exchange-traded funds in bitcoin. These financial instruments allowed investors to engage with cryptocurrencies without needing to directly open a crypto account.

In light of these developments, Binance’s new CEO, Richard Teng, emphasized the company’s commitment to compliance, stating that they had invested significantly in this area and were closely cooperating with regulators, as reported by AFP.


TAGGED:
Share this Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

situs totoslot thailand situs totoslot gacor situs toto slot online situs toto demo slot gacor situs slot gacorsitus 4d situs totoslot gacorslot gacorslot gacorslot gacorslot gacor
slot gacor
slot gacor situs toto
togel online
toto 4d
situs slot slot demo pgslot 88
slot gacor slot gacor
slot gacor
brenjitu
situs toto
situs toto
SITUS TOTO
toto macau 4d
TOTO 4D
SITUS TOTO 4D
SLOT GACOR
https://booking.embuni.ac.ke/live-draw-sydney-hongkong
TOTO 4D
toto togel
slot online
slot gacor
slot pulsa
hongkong lotto
slot gacor
slot gacor
slot pragmatic
situs bola
situs gacor
situs toto
situs slot gacor
situs totoslot gacordemo slot situs slot gacor
slot66
slot gacor
situs slot gacor
slot gacor
scatter hitam
scatter hitam
slot gacor scatter hitam
scatter hitam
situs slot gacor pulsa
situs baru slot gacor

Hacklinkgrandpashabet
grandpashabet
Deneme Bonusu Veren Siteler
Meritking
matadorbet güncel
nvi randevu
Hair Transplant istanbul
da pa kontrolü
casibom giriş
marsbahis
replika saat
eskişehir temizlik
sms onay
ankara nakliyat
ordu nakliyat
Vozol Puff
iqos terea
NORA
creative
Marketing
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu 2024
deneme bonusu veren siteler
deneme bonusu veren siteler
primebahis giriş
bahçelievler nakliyat
istanbul evden eve nakliyat
istanbul bahçelievler evden eve nakliyat
hair transplant
esenyurt escort
matbet üyelik
matbet anasayfa
ligobet girişfixbet girişSahabet
?>

Hacklinkgrandpashabet
grandpashabet
Deneme Bonusu Veren Siteler
Meritking
matadorbet güncel
nvi randevu
Hair Transplant istanbul
da pa kontrolü
casibom giriş
marsbahis
replika saat
eskişehir temizlik
sms onay
ankara nakliyat
ordu nakliyat
Vozol Puff
iqos terea
NORA
creative
Marketing
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu 2024
deneme bonusu veren siteler
deneme bonusu veren siteler
primebahis giriş
bahçelievler nakliyat
istanbul evden eve nakliyat
istanbul bahçelievler evden eve nakliyat
hair transplant
esenyurt escort
matbet üyelik
matbet anasayfa
ligobet girişfixbet girişSahabet
Hacklinkbetsat
betsat
betsat
holiganbet
holiganbet
holiganbet
Jojobet giriş
Jojobet giriş
Jojobet giriş
casibom giriş
casibom giriş
casibom giriş
xbet
xbet
xbet
grandpashabet
grandpashabet
grandpashabet
tuzla evden eve nakliyat
İzmir psikoloji
creative news
Digital marketing
radio kalasin
radinongkhai
gebze escort
grandpashabet
grandpashabet
casibom
casibom giriş
casibom güncel
jojobet
sultanbeyli çekici
matadorbet giriş
beylikdüzü escort
nvi randevu
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu siteleri
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu veren siteler
instagram followers buy
grandpashabet2197.com
casinolevant
stonebahis giriş
casibom güncel giriş
casibom giriş
matadorbet güncel giriş
Meritking
Meritking
kumar siteleri
casibom