The former chief executive of Binance, the world’s largest cryptocurrency exchange, could face years in prison when he is sentenced on Tuesday after his guilty plea to violating U.S. money-laundering laws.
“It’s unusual to ask for this much time above sentencing guidelines,” he said. “They want this to serve as a deterrent.” “It’s always the case the government asks for more than they think they’ll get...but going that much above guidelines for a pleader is unusually aggressive,” said Robert Frenchman, an attorney who focuses on white-collar crime and has defended clients against government prosecutions.
Several other crypto moguls are also in U.S. authorities’ crosshairs, after the collapse of crypto prices in 2022 exposed fraud and misconduct across the industry.
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