Former Binance CEO Changpeng Zhao was sentenced to four months in prison after pleading guilty in November 2023 to a money laundering charge.Zhao, who went by the nickname CZ, has also satisfied the requirement of him to pay $50 million in fines, U.S. District Judge Richard Jones said in court Tuesday. The judge also won't impose five months of probation as was recommended by the probation officer.The 47-year-old admitted to violating the Bank Secrecy Act by willfully failing to set up an effective anti-money laundering system at Binance, the cryptocurrency exchange he founded and ran as CEO from July 2017 to November 2023.
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