Former Binance (CRYPTO: BNB) CEO Changpeng Zhao released his memoir “Freedom of Money” globally, revealing he voluntarily faced DOJ charges to protect Binance and the crypto industry.
Why He Came To The U.S.
Zhao was living in the UAE, a non-extradition state, and could have stayed there indefinitely.
However, he chose to face charges because staying away would have severely damaged Binance, hurt BNB holders, and negatively impacted the broader crypto industry.
Zhao said he didn’t expect to go to jail. His lawyers couldn’t find a single case where a single BSA violation landed someone in prison.
He expected home confinement at worst, similar to what former BitMEX CEO Arthur Hayes received.
The Sentencing Shock
The DOJ asked for 36 months just one week before Zhao’s April 30, 2024 sentencing hearing.
His lawyer called the request outrageous—even under the most severe sentencing guidelines, his sentence should have been 10 to 16 months.
The judge …Full story available on Benzinga.com
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