Binance’s founding CEO is quickly approaching his release date.
According to the U.S. Federal Bureau of Prisons website, inmate #88087-510, Changpeng Zhao, will be released on Sunday, September 29.
Zhao is currently serving his sentence at Residential Reentry Management (RRM) Long Beach, a prison in Southern California with more than 14,000 inmates.
Last November, Zhao stepped down as CEO of Binance and was replaced by Richard Teng. Both Zhao and Binance have pleaded guilty to violating the anti-money laundering requirements of the Bank Secrecy Act.
In April this year, the US Department of Justice (DOJ) reportedly sought a three-year prison sentence against Zhao.
Before Zhao was sentenced in May, he vowed to remain a “passive” holder of crypto.
“I would like to thank everyone for your care and support, whether it is writing letters, showing support on X or in any other form. They all mean a lot to me and keep me strong. I will spend my time, close this phase and focus on the next chapter of my life (education)…
I remain a passive investor (and holder) in crypto. Our sector has entered a new phase. Compliance is super important.
A positive side of this whole process is that Binance has come under scrutiny. And funds are SAFU (safe asset funds for users).”
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