Zhao Changpeng’s sentencing results were released on 4/30! The result is not yet known but be careful about BNB fluctuations

This site (120BtC.coM): In November last year, Binance, the world’s largest cryptocurrency exchange, reached an agreement with the U.S. Department of Justice, the Commodity Futures Trading Commission (CFTC) and other agencies In the settlement agreement, he pleaded guilty and agreed to pay a fine of US$4.3 billion. Founder Changpeng Zhao (CZ) admitted to violating US anti-money laundering laws and other charges, resigned as CEO of Binance, and paid US$175 million to successfully obtain bail.

On Tuesday (4/30) local time, CZ will have the final sentencing hearing, and the verdict will determine his prison time. (The exact time is not yet clear, but Seattle time is 15 hours behind Beijing, so the results are expected late tonight or the morning of the 1st)

The U.S. Department of Justice requests that CZ be sentenced to three years in prison

Last week, the U.S. Department of Justice requested in a sentencing memorandum that the judge should sentence Changpeng Zhao to 36 months in prison and fine him $50 million to demonstrate its strict regulatory attitude towards combating money laundering activities involving cryptocurrency. Tama Kudman, a partner at Kudman Trachten Aloe Posner LLP, said: The U.S. authorities hope that such a verdict will serve as a warning to those in the cryptocurrency industry to let them know that they cannot violate U.S. anti-money laundering regulations at will.

However, Tama Kudman also added that although the sentencing for CZ in the previous plea agreement was about 18 months, both the Ministry of Justice and Zhao Changpeng can appeal to extend or shorten the sentence: Generally speaking, "When we negotiate, we will discuss both sides' perspectives," he said. "I don't see anything in the court documents that says the sentence must be 18 months." This goes both ways, with the Justice Department able to ask for a longer sentence and the defense asking for a shorter sentence based on the guidelines.

Probation Office: CZ should be sentenced to five months of probation

As the sentencing time approaches, the U.S. Probation Office recommends that CZ should be sentenced to five months of probation; this can be compared with the recommendations of the Department of Justice It's quite different.

Some lawyers also said that Zhao Changpeng’s behavior of actively pleading guilty and cooperating with the review may win favor with the judge and thus obtain favorable results in the judgment: those who try to evade arrest and those who come to plead guilty. The difference is huge and he (CZ) will get a huge honor.

However, some lawyers said that although Zhao Changpengfang has the ability to appeal against his sentence, it may be difficult for him to succeed: Circuit courts rarely overturn district court judgments, even if the judgment is excessive.

Beware of severe fluctuations in BNB

After the news that Binance and Changpeng Zhao reached a settlement agreement with the Ministry of Justice in November last year, the Binance platform currency BNB experienced huge fluctuations, and in the upcoming At the sentencing hearing, it is reasonable to judge that the price of BNB is likely to fluctuate due to the verdict. Although it is not easy to judge whether it will go up or down, Dongzhong reminds BNB investors to pay careful attention to possible market changes in the future. .

At the moment of writing, the Binance platform currency BNB is temporarily trading at $592.8, down 1.6% in the past 24 hours.

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