Crypto billionaire Changpeng “CZ” Zhao took to Twitter hours after being sentenced to four months in prison in a Seattle court, thanking his supporters and calling them a “silver lining” for the months-long legal process. urged.
“I will do my best to complete this phase and focus on the next chapter of my life,” Zhao said. wrote. “I will remain a passive investor (and holder) in cryptocurrencies. “Our industry has entered a new phase.”
He noted that education will be his focus after prison. Perhaps through Giggle Academy, which he released in March as he awaits his day in court.
“I would like to thank everyone for their interest and support, whether by writing letters, expressing support for X, or in any other form.” Zhao wrote. “They all mean a lot to me and make me strong.”
He also praised his former company and reinforced the overall theme of the court case.
“The silver lining in this entire process is that Binance is under surveillance and its funds are SAFU,” he said. “Compliance is very important. Protect your users!”
Zhao pleaded guilty last year to federal money laundering charges that federal prosecutors said focused on Binance’s corporate culture of neglecting fraud prevention in favor of growth. He had to leave the company and pay a $50 million fine.
The U.S. Department of Justice asked a judge to sentence Zhao to three years in prison, saying enhanced sentencing guidelines should be applied to Zhao considering the seriousness of the crime. Tuesday’s sentencing began with debate over the appropriate sentence, as prosecutors wanted to use the case to send a “message” to future criminals.
U.S. District Judge Richard Jones disagreed and instead followed the recommendation of the federal probation office. Zhao will receive credit for time already served, and the four-year sentence could include at least 10 months in prison, with the remainder of the term eligible for supervised release.
“Everything I’ve seen about your history and character is mitigating and positive,” Jones told Zhao. The Verge.
Once Zhao completes his sentence, his “next chapter” in education will include Giggle Academy, an online education platform for students from first grade through high school. He announced the project in a concept paper: “Let’s make basic education accessible, addictive and adaptable to children who currently don’t have access to it around the world.”
“We are looking for teachers who can create digital content,” he wrote at the time. “I will become a student too.”
Just a week ago, that person revealed Brightly colored smiling academy logo.
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