Chang Peng Zhao, the founding father of the world’s largest cryptocurrency alternate community Binance, was sentenced to 4 months in jail earlier this week.
The 47-year-old former CEO of a cryptocurrency alternate has been sentenced in Seattle for violating US anti-money laundering legal guidelines, in response to worldwide media studies.
In response to a Bloomberg report, essentially the most highly effective determine within the crypto trade, Chang Peng Xiao, is the richest prisoner within the US and probably the world, with a internet price of $43 billion.
The Bloomberg report additionally famous that Changpengzhao’s wealth is anticipated to extend additional whereas he’s nonetheless in jail.
Regardless of stepping down as CEO of Binance, Chang Peng Zhao nonetheless owns about 90 p.c of the corporate’s shares and is claimed to incorporate a lot of his shut associates on the corporate’s board of administrators.
It needs to be famous that Changpeng Xiao is the second distinguished particular person within the crypto world to be punished after FTX’s Sam Bankman Freud.
Chang Peng Zhao acquired a lesser sentence than the prosecution had sought due to US District Decide Richard Jones.
The sentence is one and a half years wanting the utmost really helpful underneath federal pointers.
