Binance’s Former CEO Changpeng Zhao Arrested in California
According to reports from CNBC, Changpeng Zhao, the former CEO of Binance, has been incarcerated in Lompoc, California. His defense team at Latham & Watkins has confirmed this news.
In April, the federal court in Seattle, United States, passed a four-month sentence on Changpeng Zhao after he admitted to breaching money laundering laws. Furthermore, both Zhao and Binance reached an agreement to pay a $4.3 billion fine to the US Commodity Futures Trading Commission, along with a $50 million penalty.
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Binance
Cryptocurrency Regulations