- Binance founder CZ’s sentencing, initially scheduled for February 23, has been postponed.
- The new sentencing date is set for April 30th.
The sentencing for the largest crypto exchange, Binance founder Changpeng Zhao, also known as CZ, on a money laundering charge, has been postponed until April 30, as per the announcement made by the Seattle Federal Court. Originally set for Feb. 23, the delay’s reasons remain undisclosed.
Zhao’s sentencing has garnered significant attention, particularly after a November 24 filing by the prosecution hinted at the possibility of an 18-month prison term following his guilty plea to money laundering charges. Legal experts also suggest a minimum-security prison term of 12–18 months under U.S. guidelines, although Zhao’s defense may push for leniency, advocating for alternatives like home detention and probation.
Currently, CZ is out on bail with a $175 million bond. Additionally, he remains residing in the US and faces travel restrictions, as a federal court denied his request to leave for Dubai.
Moreover, in a bid to secure his appearance, Zhao recently offered his equity in Binance.US, valued at approximately $4.5 billion, as collateral, as revealed in a letter to Judge Richard Jones.
