BNB Founder CZ -Sentenced to Prison

CZ proclaims he’s “had a lot of quiet time alone to think and reflect.”

“I’m sorry,” Zhao told the judge before being sentenced.

The recent sentencing of Changpeng “CZ” Zhao, former CEO of Binance to 4 months in prison as part of a plea deal- (the multibillionaire will still retain most of his wealth) marks the first significant event post Bitcoin halving as Binance, speculatively the world’s leading crypto exchange will continue in spite and notwithstanding it’s founders legal woes.

CZ admitted guilt before to his sentencing and claimed to have reflected on his unscrupulous conduct but to what extent, he hasn’t elaborated. Further to his acknowledgment of guilt in unscrupulous management decisions, CZ has expressly taken ownership of the failure to launch an AML program to put into place that actually worked.

Lawyers representing Zhao cited undisclosed information in court documents as a significant factor for the judge to take into account during the sentencing process. His legal team made the case that Judge Jones could probably impose a probation period of less than six months, citing concerns about his wealth making him vulnerable in a prison setting.

On Tuesday, a judge in Seattle federal court sentenced Zhao to four months in prison.

“We are not suggesting that Mr…