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.
Fabio Panetta, head of the Bank of Italy and former European Central Bank executive, is pushing for the swift rollout of a digital euro, calling it Europe’s best answer to rising crypto risks and global regulatory fragmentation.
Following a major security breach at decentralized exchange Cetus, the Sui blockchain has moved swiftly to recover user funds.
Telegram has successfully raised $1.7 billion in a bond offering that drew overwhelming investor interest, exceeding initial targets and signaling strong confidence in the platform’s growth trajectory.
The U.S. Securities and Exchange Commission has officially ended its legal battle with crypto exchange Binance, closing a major chapter in the regulatory crackdown on digital asset platforms.