technology

Binance founder sentenced to four months in prison

The sentence marks the first time a chief executive has ever gone to jail for a bank secrecy act violation

Changpeng Zhao, former chief executive officer of Binance, arriving at federal court in Seattle, Washington on Tuesday for sentencing

Binance founder Changpeng Zhao was ordered to spend four months in prison for failures that allowed cybercriminals and terrorist groups to freely trade on the world’s largest cryptocurrency exchange.

Zhao was sentenced Tuesday by US District Judge Richard Jones in Seattle. Dressed in a dark suit with a light blue tie, the billionaire arrived in court flanked by half a dozen lawyers. His mother and sister watched his sentencing from the front row of the ...