Release Date for Binance Ex-CEO Changpeng Zhao Officially Confirmed
17.09.2024 8:00 1 min. read Kosta Gushterov
Former Binance CEO Changpen Zhao is nearing the end of his four-month prison sentence, with his release scheduled for September 29, according to the US Federal Bureau of Prisons.
He served his sentence in a low-security prison in Santa Barbara County after surrendering in May 2024, following his sentencing in April.
The 47-year-old Zhao pleaded guilty to charges related to enabling money laundering on his cryptocurrency exchange Binance, which also led to his resignation as CEO.
Federal prosecutors initially recommended a three-year prison sentence, while sentencing guidelines suggested 12 to 18 months. Zhao’s defense team asked for five months’ probation. But the judge chose the softer sentence of four months.
After spending time in federal prison in Lompoc, California, Jabo was moved to a transitional housing house, a facility designed to help people reintegrate into society by providing a variety of support services. His release will mark the end of a tumultuous chapter in his career and in Binance’s operations.
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