Changpeng Zhao, founder and former CEO of cryptocurrency exchange Binance, has been sentenced to four months in prison. Zhao has been found guilty of violating anti-money laundering laws at Binance. Changpeng Zhao also faces several other allegations like allowing cybercriminals, terrorist groups and child abusers to do business through its platform. US District Court Judge Richard Jones has given this sentence. A fine of ₹ 35 thousand crore was imposed. In November last year, US Attorney General Merrick Garland, while imposing a fine of 4.3 billion dollars (about Rs 35 thousand crore) on the world’s largest cryptocurrency exchange Binance, said, ‘Due to its crimes, Binance has become the world’s worst. Became the largest crypto exchange. He said it would now pay one of the largest corporate penalties in American history. After this, Zhao had to resign from his own company. Also, there was a ban on holding any management position in the company for the next 3 years. Zhao said – I failed to implement the Anti-Money Laundering Act. Before being sentenced, Zhao told the judge, ‘I am sorry. I believe the first step to taking responsibility is to fully recognize mistakes. Here I failed to implement the Anti-Money Laundering Act, I realize the gravity of that mistake. The richest person to go to jail is Changpeng Zhao, known as CZ in the crypto market. Zhao is the richest person to be jailed in the US and possibly the world. According to Bloomberg, Zhao’s net worth is around $43 billion (Rs 3.59 lakh crore). Binance was started in 2017. Binance was started in 2017. Binance has several cryptoexchanges in its ecosystem that it has acquired and built. Apart from this it also has its own cryptocurrency, several crypto wallets and a launchpad to launch new cryptocurrencies. Also read this news… Resignation of CEO of the largest crypto exchange Binance: Changpeng Zhao found guilty of breaking US law, Richard Teng new CEO Changpeng Zhao, founder and CEO of the world’s largest cryptocurrency exchange Binance, resigned on Wednesday. Gave. He has been found guilty of breaking US anti-money laundering laws. The crypto exchange will also pay a fine of 4.3 billion dollars (about Rs 35 thousand crores). Click here to read the full news… Also read… Apple removed 9 crypto-exchange apps including Binance from the App Store: These apps were breaking Indian laws, Finance Ministry had issued a notice Tech company Apple The world’s largest cryptocurrency exchange Binance has been removed from its app store. Along with this, the company has also removed other apps like Kucoin and OKX. Click here to read the full news…
