Cheyenne Ligon is a CoinDesk news reporter with a focus on crypto regulation and policy. She has no significant crypto holdings.
Binance founder Changpeng “CZ” Zhao has been released from prison, according to the U.S. Bureau of Prisons .
Zhao’s release comes two days ahead of his scheduled release date this Sunday, Sep. 29. The BOP is legallyIn April, Zhao was sentenced to four months in prison for violating the Bank Secrecy Act by failing to set up an adequate know-your-customer program at Binance. As part of his guilty plea, Zhao also agreed to pay a $50 million fine and step down as CEO of the crypto exchange. The exchange agreed to pay a $4.3 billion fine to various U.S. regulators to settle related charges.
The judge overseeing Zhao’s case, U.S. District Judge Richard Jones of the Western District of Washington, seemed to be swayed by Zhao’s squeaky-clean criminal record and positive reputation – aided byZhao – formerly known as Inmate #88087-510 – served three months in a low-security prison, Lompoc II, on California’s central coast. In August, he was moved to a halfway house in San Pedro, California.
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