Zhao pleaded guilty and stepped down as Binance CEO in November as the company agreed to pay $4.3 billion to settle money laundering allegations.
SEATTLE — Former Binance CEO Changpeng Zhao was sentenced Tuesday to four months in prison for allowing rampant money laundering on the world’s largest cryptocurrency exchange.
Zhao pleaded guilty in November to one count of failing to take required anti-money-laundering measures and stepped down as Binance agreed to pay $4.3 billion to settle related allegations.
“I failed here,” Zhao said before U.S. District Judge Richard A. Jones issued the sentence. “I deeply regret my failure, and I am sorry.”
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