In a letter addressed to US Judge Richard A. Jones for the Western District of Washington, former Binance CEO Changpeng Zhao, commonly known as “CZ,” expressed his remorse and apologized for what he called “poor decisions” made during his tenure as the head of the cryptocurrency exchange.
The letter was filed on Tuesday, ahead of his sentencing for charges related to anti-money laundering and sanctions violations.
Former Binance CEO Apologizes For “Poor Decisions”
CZ began the letter by expressing gratitude to the court and the Probation Office for their time and consideration throughout the legal process. He acknowledged the probation officers for allowing him to speak candidly and understand him as a whole person.
Changpeng Zhao accepted full responsibility for his actions and admitted that he should have prioritized implementing compliance changes at Binance from the outset. He expressed regret for failing to establish necessary compliance controls.
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