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Justice: Binance boss gets a term of four months in prison

07/05/2024
Source : ORISHAS-FINANCE
Categories: Compliance

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On the evening of April 30, 2024, the verdict on the fate of the boss of Binance was finally known. Changpeng Zhao, the charismatic founder of Binance, is going to serve a term of four months in prison for not properly fighting money laundering

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Les autorités américaines accusaient depuis 2021 Binance for allowing dirty money to flow, and for not having strong enough identity verification measures in place, which would have allowed criminals to transfer funds. In order to avoid a lawsuit, Binance agreed to negotiate with the American courts. The platform had to pay a very large fine (more than 4 billion dollars), EtCz had been forced to resign, leaving the reins of the company to Richard Teng . In a message published on May 1, 2024 on X, the former boss simply announced that he was going to “purger sa peine ”, and turn this page in his life and focus on his next projects, in connection with education.

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