Coinspeaker
Binance Founder Changpeng Zhao Apologizes in Letter to Presiding Judge Ahead of Upcoming Sentencing
As the sentencing for Binance co-founder Changpeng Zhao (CZ) approaches, the former crypto leader has written an apology letter to the presiding Judge from the Western District of Washington, Richard A. Jones. According to the apology letter, CZ noted that he has accepted full responsibility for the poor decisions during his tenure at Binance.
“There is no excuse for my failure to establish the necessary compliance controls at Binance,” the apology letter said.
CZ further assured the court that this would be his only encounter with the criminal justice system. As Coinspeaker explained, the United States is seeking a harsher punishment for CZ, which entails a three-year sentence in addition to a $50 million penalty. Notably, Zhao pleaded guilty under an agreement with the United States government, which brushed off his right to appeal any sentence of more than
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