Changpeng Zhao Sentencing Postponed to April
Main page News, Binance

The sentencing hearing against Binance founder Changpeng Zhao on money laundering charges has been rescheduled for April 30, CNBC has reported.

The court has given no reason for the nearly two-month postponement, as it was expected to take place on February 23.

If found guilty, Zhao could face a maximum sentence of 18 months in prison, but prosecutors are seeking a harsher punishment of up to 10 years under federal rules.

In November, Zhao admitted to neglecting to maintain an effective anti-money laundering program at Binance while serving as CEO of the crypto exchange. As part of a settlement with the US Department of Justice, he agreed to pay a $50 million fine and step down as CEO of the company.

Binance itself paid compensation of $4.3 billion.

Zhao, who posted a $175 million bond, is currently at liberty pending the hearing.

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