One significant point in Zhao’s favor is his extraordinary acceptance of responsibility. According to the court document, the Probation Office has recognized his conduct as “remarkable” and “exceptional”.
Binance is a cryptocurrency exchange platform that combines digital technology and finance.
Binance is a blockchain ecosystem comprised of Exchange, Labs, Launchpad, and Info. Binance Exchange is one of the fastest growing and most popular cryptocurrency exchanges in the world.
The company was founded in China but moved its servers and headquarters out of China and into Japan in advance of the Chinese government ban on cryptocurrency trading in September 2017. By March 2018 the company had established offices in Taiwan. As of September 2018 it was largest crypto-exchange with a BNB market capitalization of $1.3 billion.
One significant point in Zhao’s favor is his extraordinary acceptance of responsibility. According to the court document, the Probation Office has recognized his conduct as “remarkable” and “exceptional”.
This decision is based on the growing concern over the potential misuse of cryptocurrencies for nefarious purposes.
Former Binance CEO alias CZ will be sentenced on April 30, with the DoJ seeking a harsher punishment of 3 years.