Changpeng Zhao Released Early from Prison
Changpeng Zhao, the founder and former CEO of Binance, has been released from prison two days ahead of schedule after serving a four-month sentence in the United States. Originally set to be released on Sept. 29, federal rules allowed for an early release due to the weekend date.
Binance Founder Faces Legal Troubles
In May 2024, Changpeng Zhao began his sentence for failing to implement proper anti-money laundering and sanctions regulations at Binance. He received a lenient sentence compared to the three-year term sought by the U.S. Department of Justice. In November 2023, Zhao and Binance pleaded guilty to violations of U.S. anti-money laundering and sanctions regulations, resulting in hefty fines and his agreement to step down as CEO.
Changpeng Zhao’s Billionaire Status Despite Legal Issues
Despite facing legal troubles and paying substantial fines, Changpeng Zhao remains one of the wealthiest individuals in 2024. With a net worth of $60.6 billion, he holds the 25th spot on Forbes’ updated billionaire list. Zhao is the top earner among the 17 individuals from the cryptocurrency industry featured on the list.
