Bloomberg: It is expected that Zhao Changpeng's prison sentence will not exceed 18 months, with bail set at $175 million

2023-11-22 08:20:03

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ChainCatcher news, according to Bloomberg, Binance Holdings Ltd. and its CEO Changpeng Zhao face up to 10 years in prison, but under a plea agreement, the expected sentence will not exceed 18 months. The U.S. Department of Justice has not yet decided how long he will be imprisoned. The defense attorney stated in court that sentencing will be postponed for 6 months.

At the hearing, Judge Brian Tsuchida ruled that Changpeng Zhao be released and can freely travel to and from his home in the UAE while awaiting sentencing. Zhao's bail was set at $175 million, and his lawyer previously stated that he was prepared to pay this amount to ensure his release. Due to the lack of an extradition treaty between the U.S. and the UAE, government lawyers had requested that Zhao remain in the country, stating they would appeal the release terms.

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