CZ of Binance Sentenced to Four Months in Prison
- Centralized Exchange
- Regulation
- CT Lore
Binance founder Changpeng 'CZ' Zhao was sentenced to four months in prison on April 28, 2024, for violating US banking laws. The term was a slap on the wrist compared to SBF's 25-year sentence, but CT exploded with memes and hot takes on crypto's legal reckoning. Many saw it as a symbolic win for regulators targeting offshore exchanges. CZ's fall marked a brutal chapter for Binance's once-untouchable image.