Binance Founder Changpeng Zhao Apologizes in Letter to Presiding Judge Ahead of Upcoming Sentencing
Former Binance CEO alias CZ will be sentenced on April 30, with the DoJ seeking a harsher punishment of 3 years.
Former Binance CEO alias CZ will be sentenced on April 30, with the DoJ seeking a harsher punishment of 3 years.
While the $50 million penalty for Binance remains, the DOJ pushes for an aggressive stance against Binance and its top executives.
Binance is gradually losing its global trading market share to its many regulatory problems and increasing competition from other exchanges.
If found guilty by Judge Richard Jones, the former Binance CEO could face up to 10 years in prison, although the sentencing guidelines recommend a jail term of 12 to 18 months.
Despite ongoing concerns about the SEC lawsuit, the detention of its executive in Nigeria, and fluctuations in Bitcoin price ahead of the halving event, Binance remains committed to driving positive developments in the crypto space.
Binance FZE, the global exchange’s Dubai arm, can now fully operate in the city after authorities awarded the company a full license.
On April 3, a savvy trader converted $13,000 into $1 million within an hour by investing in the newly launched meme coin Donotfomoew (MOEW).
Binance executive Catherine Chen said that they are open to regulations in the crypto space which would give them further clarity to navigate through the crypto landscape.
Since the arrest of Do Kwon, both the United States and South Korea have submitted extradition requests, setting the stage for a legal war between the two countries.
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