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Binance founder Changpeng Zhao sentenced to 4 months in prison

Binance (BNB-USD) Founder and former CEO Changpeng "CZ" Zhao has been sentenced to four months in prison on Tuesday after pleading guilty to money laundering charges. The crypto exchange has paid $4.3 billion in fines as part of Zhao's plea deal with authorities.

Zhao's sentencing comes over a month since FTX's own Sam Bankman-Fried was sentenced to 25 years after defrauding his platform's investors and customers.

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This post was written by Luke Carberry Mogan.