Changpeng Zhao, founder and former CEO of Binance, is wanted by US authorities to spend three years in prison after pleading guilty to money laundering laws.
Prosecutors argue that sending Zhao to prison for twice as long as the maximum 18 months suggested by federal guidelines would fairly punish him for his offenses and convey the message that “the right choice, every time, is to comply with the law.” Zhao’s attorneys have asked for probation and are scheduled to be sentenced by U.S. District Judge Richard Jones on April 30.
Binance consented to a criminal fine of $4.32 billion.