Changpeng Zhao, the founder and former chief executive of the Binance cryptocurrency exchange, has been imprisoned for four months after pleading guilty to a money laundering violation.
The sentencing took place in U.S District Court in Seattle, despite efforts by Zhao’s lawyers to secure probation without prison time.
Judge Richard A. Jones, presiding over the case, stated, “Your conduct does not warrant a 36-month sentence.” He acknowledged Zhao as “a dedicated family man and a giving person,” praising his “staggering accomplishment” in building Binance.
In a brief statement to the court, Zhao, 47, expressed remorse, saying, “I failed here. I deeply regret my failure, and I’m sorry.”
According to David Yaffe-Bellany’s report from the court on April 30, 2024, Zhao pleaded guilty to a single criminal count.
Meanwhile, Nigeria awaits the extradition of Nadeem Anjarwalla, Binance’s Africa regional manager.
On March 22, 2024, Anjarwalla and his colleague Tigran Gambaryan reportedly escaped from a guest house in Abuja, fleeing Nigeria with a passport from an East African country. Guards escorted them to a nearby mosque for prayers during the Ramadan fast.
Garba Umar, vice president of the Interpol (Africa) executive committee, has assured Anjarwalla will be deported.
