The founder of Binance has become the world’s richest prisoner after he was sentenced to four months in jail, marking a stunning downfall for the former boss of the world’s largest cryptocurrency exchange.
Changpeng “CZ” Zhao was sentenced by a Seattle court on Tuesday after pleading guilty to violations of US anti-money laundering and sanctions laws last year.
A US judge handed down the four-month sentence despite prosecutors pushing for a three-year term, as the court took into account the “positive nature” of Mr Zhao’s past behaviour.
His prison sentence will make him one of the wealthiest inmates ever, boasting a net worth of around $33bn through his ownership of Binance. He stepped down as chief executive last year.
In US legal filings, government lawyers said Mr Zhao had “bragged” about breaking the law during his time at Binance, as he…
