Changpeng Zhao, who agreed to make a personal payment of $ 50 million within the scope of his agreement with the US Department of Justice (DoJ), was shaken by the news from the USA today. In the morning, US Justice Department lawyers said CZ should receive a 36-month prison sentence, not 18 as previously requested.
“The responsibility is entirely mine… I made bad decisions”
It was revealed that the former CEO of Binance wrote a letter to the case judge Richard Jones more than 2 months ago. According to the news compiled by the US media The Block from the court documents, CZ admitted his mistake in the letter he wrote to Judge Jones dated February 2 and stated that he was entirely responsible:
“I’m sorry for the bad decisions I made. I take full responsibility for this matter. I should have checked how well regulations were followed at Binance, but I didn’t do that. There is no excuse for this. I regret making the decisions that brought me to this court. Words are not enough to express my regret. “I guarantee that nothing like this will happen again.”
“We are the ones who fit the most”
The news also stated that Zhao stated that Binance had difficulties, especially in its early years, but that they are now the exchange that complies with the most regulations in the world. Zhao; He also apologized to his family, friends and the crypto world for what happened.
Support grows: They wrote 161 letters
On the other hand, important people who have influence in the world and in their countries do not spare their support for CZ. Today, 161 letters supporting CZ from all over the world were delivered to Judge Jones.
Among those who supported Zhao were his family members, from Yi He, one of the founders of Binance and CZ’s ex-wife, as well as the mother of his 3 children, to his sister Jessica Zhao and his current wife Yang Weiqing.
Former US consul to China Max Baucus, McGill University professor Jeremy Cooperstock, Samson Mow, who is well known in the crypto world, and some families controlling the United Arab Emirates (names not given) also wrote letters of support to CZ.
In his letter to the judge, Zhao also stated that he wanted to support small-scale research companies and educational programs working on the treatment of diseases.
Judge Jones stated that there was a possibility that CZ would never come to the USA again and gave him a travel ban. Although CZ requested that his shares in Binance be taken as collateral and this ban be lifted, this request was not accepted.
It was published: 24 April 2024 17:14
Last update: 24 April 2024 17:16
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