# Binance Founder, Changpeng Zhao, the World's Richest Prisoner, Gets a 4-Month Sentence

> Changpeng Zhao, founder of Binance, has become the world's richest prisoner after being sentenced to four months in jail for violating US anti-money laundering and sanctions laws. Despite prosecutors seeking a three-yea…

Published: 2024-06-25 · Desk: World · Source: NDTV

Changpeng Zhao, founder of Binance, has become the world's richest prisoner after being sentenced to four months in jail for violating US anti-money laundering and sanctions laws. Despite prosecutors seeking a three-year term, a Seattle court considered Zhao's positive past behavior. Zhao, who has a net worth of approximately $33 billion through his 90% ownership of Binance, stepped down as CEO last year as part of a settlement with US authorities. Binance also agreed to pay $4.3 billion to resolve the charges. The sentencing follows Zhao's guilty plea and comes amid broader regulatory scrutiny in the cryptocurrency sector. This development follows the recent 25-year sentence of FTX's Sam Bankman-Fried for fraud.

Original reporting: https://www.ndtv.com/feature/binance-founder-changpeng-zhao-becomes-worlds-richest-prisoner-after-receiving-4-month-sentence-5562760
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