Binance founder CZ reports to low-security California prison

Binance founder Changpeng Zhao has reported to a federal prison in California to begin a four-month sentence for failing to safeguard the world’s largest crypto exchange against money laundering. The former chief executive officer, the richest person to do time in a US federal lock up, will serve his punishment at Lompoc II, a low-security facility with an adjacent satellite camp in Santa Barbara county.

But he was allowed to report to the cushier, minimum-security prison at Lompoc, where inmates work on horse farms and spend most of the day outside, prison consultant Sam Mangel said. “He will be perfectly fine at Lompoc low,” said Mangel, who has two clients currently at the prison. “There are a lot of experiences that other inmates will be thirsty to hear about, especially in crypto.” “Now you have this guru coming in and being able to teach or educate them.

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