Former Binance CEO Changpeng Zhao (CZ) was still sentenced to four months in prison, but he received such a short sentence due to his reputation. Writes about this CoinDesk.
The judge, defense attorneys and even prosecutors acknowledged during the hearing that CZ is not a “typical defendant” in criminal cases. In their view, he was a philanthropist who had broken the law for the first time, and a family man who gave in to accept the consequences.
He also recalled letters of support that CZ's friends, family and colleagues had sent.
The publication's source at the US Department of Justice noted that the founder of Binance will be the first CEO to go to prison for violating the Bank Secrecy Act.
As the judge spoke, CZ leaned forward in his chair and nodded each time instances of wrongdoing were pointed out to him. CoinDesk journalists got the impression that he was initially counting on a short term.
The most compelling claims came from Zhao's legal team. Lawyers repeatedly reminded the judge that the accused lived in the UAE, and his enormous wealth could allow him to lead a fugitive lifestyle. But instead, CZ made a deal with the prosecutor's office.
To summarize, letters of support, his “extraordinary” cooperation with the government and lack of criminal history helped the ex-CEO of Binance receive a fairly lenient sentence.
Source: Cryptocurrency
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