Coinspeaker
Former Binance CEO CZ’s Sentencing Postponed to Late April
The sentencing date in former Binance CEO Changpeng Zhao’s money laundering case has been moved from February 23 to April 30. Zhao, also known as “CZ” in the crypto community, pleaded guilty to money laundering charges in November and faces up to 18 months in prison.
The “notice of rescheduled hearing” for the two-month delay was filed in a Seattle Federal Court on Monday.
Former US Securities and Exchange Commission (SEC) enforcement attorney John Reed Stark notes that according to sentencing guidelines in the United States, CZ could serve between 12-18 months at a minimum security prison.
A November 24 filing from the prosecution, however, suggests that Zhao could face more prison time than initially expected.
“The defense claims that Mr. Zhao faces merely a “brief” sentence and has no incentive to flee. The reality is that the top-end of the Guidelines range may be as high as 18 months, and the
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