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Binance founder Changpeng Zhao sentenced to four months in prison
A federal judge has sentenced Binance founder Changpeng Zhao to four months in prison. Prosecutors had recommended three years. Zhao pleaded guilty in November to violating the Bank Secrecy Act.
Its willful failures allowed money to flow to terrorists, cybercriminals, and child abusers through its platform,” Treasury Secretary Janet Yellen said in November. The government accused Binance of refusing to comply with American sanctions and failing to report suspicious transactions related to drugs and child sexual abuse materials. He said “recent revelations that have came[sic] to light” while citing “ethical concerns” and “regulatory risks.” The posts not only crushed FTX but the crypto world at large.
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