Binance Founder CZ Sentenced to 4 Months in Prison

Binance founder Changpeng Zhao, also known as CZ, has been handed a four-month prison sentence in a Seattle federal court. The judge expressed skepticism towards the Department of Justice's push for a longer sentence, highlighting the lack of evidence linking Zhao to illegal activities at Binance. Despite his guilty plea and cooperation, Zhao will serve time in prison, but not the three years sought by prosecutors. The judge commended Zhao for accepting responsibility and noted his positive characteristics. This sentencing marks a significant moment for the cryptocurrency industry, as one of its most prominent figures faces legal consequences. The future of Binance remains uncertain as Zhao steps down as CEO and awaits his return to the company after three years.