Binance Founder CZ Released After Serving Four-Month Sentence

Changpeng Zhao completed his prison term for failing to implement anti-money laundering measures at Binance.

Changpeng Zhao, founder of Binance, was released from a low-security prison on Friday after serving a four-month sentence.
Zhao's incarceration was due to his failure to establish adequate anti-money laundering protocols at Binance, leading to a $4.3 billion fine for the company.
As part of his plea deal, Zhao paid a $50 million fine and agreed to step down from his role as CEO, although he retains a 90% stake in the company.
Zhao's legal troubles highlighted the broader crackdown on crypto-related crimes, with significant penalties being imposed on industry leaders.
Despite his legal issues, Binance continues to thrive under new leadership, boasting over 230 million users globally.