2024-09-28
Changpeng Zhao, commonly known as CZ,
the founder of Binance, has been released from U.S. custody after serving a
four-month sentence in prison.
He was sentenced in April for failing
to implement adequate know-your-customer (KYC) protocols at Binance, which led
to violations of the Bank Secrecy Act.
He was released on Friday, two days
earlier than the official release date because his release date September 29 is
a weekend. CZ’s early release was due to federal prison guidelines that allow
for weekend releases to occur on the preceding weekday.
Despite his legal troubles, CZ remains
an important figure in the crypto world, retaining a substantial stake in
Binance. He has also announced a new project, Giggle Academy, an education
platform.
