Binance founder Changpeng Zhao faces sentencing; US seeks 3-year term for allowing money laundering

Binance founder Changpeng Zhao faces sentencing; US seeks 3-year term for allowing money laundering

4 months ago
Anonymous $6hYC3Wwiad

https://apnews.com/article/binance-crypto-money-laundering-sanctions-changpeng-zhao-cf81925ff9b4b65e27f80f906a6a63ae

SEATTLE (AP) — Changpeng Zhao, the founder of Binance, the world's largest cryptocurrency exchange, faces sentencing Tuesday in a Seattle courtroom, where U.S. prosecutors are asking a judge to give him a three-year prison term for allowing rampant money laundering on the platform.

Zhao pleaded guilty and stepped down as Binance CEO in November as the company agreed to pay $4.3 billion to settle related allegations. U.S. officials said Zhao deliberately looked the other way as illicit actors conducted transactions that supported child sex abuse, the illegal drug trade and terrorism.

Binance founder Changpeng Zhao faces sentencing; US seeks 3-year term for allowing money laundering

Tue Apr 30, 5:13am UTC
https://apnews.com/article/binance-crypto-money-laundering-sanctions-changpeng-zhao-cf81925ff9b4b65e27f80f906a6a63ae > SEATTLE (AP) — Changpeng Zhao, the founder of Binance, the world's largest cryptocurrency exchange, faces sentencing Tuesday in a Seattle courtroom, where U.S. prosecutors are asking a judge to give him a three-year prison term for allowing rampant money laundering on the platform. > Zhao pleaded guilty and stepped down as Binance CEO in November as the company agreed to pay $4.3 billion to settle related allegations. U.S. officials said Zhao deliberately looked the other way as illicit actors conducted transactions that supported child sex abuse, the illegal drug trade and terrorism.