CZ

Binance Founder Changpeng Zhao has reacted positively to his 4-month sentence with community appreciation. While leniency was shown to him, the crypto market found another reason to trigger intense selloffs. Changpeng ‘CZ’ Zhao, founder of the prominent Binance Holdings has responded to his four-month sentencing, assuring investors of the safety of funds within the platform. His response comes at a time when concerns regarding the safety and integrity of the exchange are at the forefront of public discourse. CZ Response…

The post With CZ in Prison, $300M+ Liquidations Drop BTC Price To $60K appeared first on Coinpedia Fintech News As the founder of Binance, Chanpeng Zhao was sentenced to four months in prison; BTC and other altcoins price experienced a massive drop. Amidst this legal storm, the crypto world witnesses a $322 million-long liquidation, per Coinglass.  The legalities increase the FUD in the crypto world and lead to the lowest closing price in Bitcoin in the last 60 days. With…

Changpeng ‘CZ’ Zhao will have to serve a four-month sentence in prison for anti-money laundering violations. The prosecutors fought for a longer sentence, while his defence portrayed him as remorseful; in the end, the judge leaned more with the defence. One of the most high-profile court battles in the crypto industry has come to an end today. A US court has sentenced Changpeng Zhao to four months behind bars for failing to ensure Binance implemented adequate anti-money laundering checks, as…

Binance founder Changpeng “CZ” Zhao has been sentenced to four months in prison for violating US anti-money laundering laws. US prosecutors were pushing for a longer sentence “to reflect the seriousness of the offence,” but Judge Richard Jones said CZ’s behaviour was mitigating and positive. Binance founder and former CEO Changpeng “CZ” Zhao has been sentenced to four months in prison for failing to implement sufficient anti-money laundering protections while at the helm of the exchange. Judge Richard A. Jones…

In a significant development for the crypto industry, Changpeng Zhao, commonly known as CZ, the founder of Binance, the world’s largest cryptocurrency exchange, has been imprisoned for four months.  The sentencing follows his guilty plea to charges related to enabling money laundering activities within his crypto exchange. The verdict was delivered in Seattle federal court and marks the culmination of US authorities’ multiyear investigation into Binance. Lighter Sentence For Binance Founder The sentence handed down to Zhao was notably less…

New York, USA, April 30th, 2024  In a significant demonstration of community backing, over 30,000 on-chain users have voiced their support for Changpeng Zhao (CZ), the founder of Binance, through a decentralized opinion poll on AlphaorBeta. This poll, powered by Opinion Labs, sought insights on whether CZ’s contributions to the cryptocurrency world outweigh his past regulatory challenges. Within just 24 hours, the poll garnered extensive participation from top opinion leaders and users alike, marking that the crypto community stands behind…

The U.S. Department of Justice (DOJ) has recommended a three-year prison sentence for Changpeng “CZ” Zhao, the founder and former Chief Executive Officer of Binance. This recommendation follows Zhao’s guilty plea last year for violating the Bank Secrecy Act last November. CZ’s Sentencing According to documents filed by DOJ attorneys on Tuesday night, Zhao should serve 36 months in prison and pay a $50 million fine. The filing asserted that “the sentence in this case will not just send a…

As the FTX crisis draws on, competitor and leading global exchange platform Binance recorded a jump in client withdrawals. Users have pulled out assets such as Bitcoin, Ethereum, and other stablecoins from the firm as tensions soar throughout the market.  CZ however dismissed any worries, describing the increased withdrawals as only 'slight' and 'normal'.  Binance Users Withdraw BTC, ETH, and Others On-chain data platform CryptoQuant reports BTC withdrawals on Binance totaling 81,712 tokens. This amounts to roughly $1.35 billion at…

Binance notoriously devoted $500 million to support Elon Musk’s buyout of Twitter, after the billionaire announced his offer in April.  The company’s CEO, Changpeng Zhao (CZ), has now provided a summary of its 6 primary reasons for doing so.  Binance Supports Free Speech According to a Twitter thread from CZ on Friday, Binance’s foremost reason for supporting the buyout is its support for freedom of speech.  “Twitter is the global Townsquare. From singers/athletes/movie stars to politicians/CEOs/entrepreneurs, the crypto community, and…