Binance Co-Founder's Ignorance Plea for Leniency: Zhao Changpeng's Sentencing Looms

IconCrypto News Terminal25 Apr, 2024

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Binance Co-Founder's Ignorance Plea for Leniency: Zhao Changpeng's Sentencing Looms

According to U.Today, Binance co-founder Yi He stated in a petition to the court asking for leniency for former Binance CEO Zhao Changpeng that "Zhao's biggest mistake arose out of ignorance." He explained that "most of the early team at Binance had no legal background, and almost no one could read English except for CZ. Binance and CZ have paid a heavy price for their lack of early compliance preparation." Earlier, U.S. prosecutors sought a 36-month prison sentence for former Binance CEO Zhao Changpeng, alleging violations of anti-money laundering and sanctions laws. Currently out on a $175 million bail, Zhao's sentencing is set for April 30. Previously on April 24, 2024, U.Today reported that Binance co-founder Yi He emphasized Zhao's lack of legal knowledge in a plea for leniency. He shed light on the early Binance team's limited legal expertise and English proficiency. Zhao has also submitted a handwritten reflection letter to the judge, accompanied by 161 letters of support.

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