The criminal sentencing for the founder and former CEO of Binance, Changpeng “CZ” Zhao has been pushed back to April 30.
According to a Feb. 12 notice filed in a Seattle Federal Court, Zhao’s sentencing hearing which will hand down a verdict on money laundering charges, where he is expected to face a maximum sentence of up to 18 months in prison.
Zhao remains free on a $175 million bond, residing in the United States. On Dec. 29, a U.S. Federal court ordered that Zhao be barred from traveling outside the U.S. following a request to leave for Dubai from the former Binance executive.
On Nov. 21, Zhao pladed guilty to failing to maintain an effective anti-money laundering program at Binance and reached a $4.3 billion settlement with the U.S. government for allegedly allowing individuals engaged in illicit activities to transfer funds through the exchange. He stepped down as the CEO of the crypto exchange as part of the settlement.
This is a developing story, and further information will be added as it becomes available.