Binance founder Changpeng Zhao was released from a correctional facility in California on Friday (Saturday AEST) after being held in federal custody for failures that allowed cybercriminals and terrorist groups to freely trade on the world’s largest cryptocurrency exchange.
Zhao, 47, pleaded guilty in November for failing to implement an adequate money laundering program at Binance, an exchange that began in Shanghai in 2017 and ballooned to process trillions of dollars worth of trades each year.
https://www.afr.com/companies/financial-...928-p5ke6j
Another reason for Bitcoin to explode soon.
(28-09-2024, 09:09 AM)theold Wrote: [ -> ]Binance founder Changpeng Zhao was released from a correctional facility in California on Friday (Saturday AEST) after being held in federal custody for failures that allowed cybercriminals and terrorist groups to freely trade on the world’s largest cryptocurrency exchange.
Zhao, 47, pleaded guilty in November for failing to implement an adequate money laundering program at Binance, an exchange that began in Shanghai in 2017 and ballooned to process trillions of dollars worth of trades each year.
https://www.afr.com/companies/financial-...928-p5ke6j
He is no criminal but some of his clients were. Imagine With $60,000,000,000 at his disposal.
https://www.aol.com/binance-founder-cz-l...16735.html
Zhao reflected on his brilliant but aloof late father, and expressed concern he had inherited some of his neglectful traits. It is possible Zhao will decide post-prison to make up for lost time by spending more time with his family, including his sister, his son and his mother—all of whom testified to his character and stood by his side at his sentencing this spring.
Those endorsements from his family helped persuade the sentencing judge to accept what some view as a lenient five month sentence. So too did what the judge described as Zhao's “extraordinary commitments and dedication to philanthropic activity across the planet."