The former CEO of the world's largest cryptocurrency exchange, Binance, sent a letter to the court in charge of his case in the Western District of Washington. In the letter, the businessman announced that he no longer plans to meet with the US criminal justice system.

Changpeng Zhao, addressing Judge Richard A. Jones, apologized and took full responsibility for the actions of the exchange's management.

“There is no excuse for my failure to establish the necessary compliance controls at Binance,” the company co-founder wrote.

Changpeng Zhao promised to dedicate the near future to supporting young entrepreneurs and startups in the field of biotechnology.

Changpeng Zhao's family and friends also addressed Judge Richard A. Jones. All together they sent 161 letters (!) asking for leniency. The defendant's sister, Jessica Zhao, tried to assure that her brother did make mistakes, but tried to do good for other people. The disgraced CEO's wife, Yang Weiqing, cited the example of Binance donating millions of yen to disaster-stricken prefectures in Japan in 2018.

Earlier, the US Attorney's Office demanded that Changpeng Zhao be sentenced to a term of 36 months in prison for the businessman's alleged intentional violations of the country's laws.