Supporters Rally Behind Binance Founder Changpeng “CZ” Zhao Ahead of Sentencing
Family, Friends, and Industry Leaders Write Letters of Support for Zhao
With more than 160 letters of support in advance of Changpeng “CZ” Zhao’s sentencing, it appears that the co-founder and onetime chief of Binance has garnered an impressive array of backing from family members, friends, crypto executives, and Binance employees.
Contrasting Receptions for Zhao and Rival Sam Bankman-Fried
As Zhao awaits his upcoming sentencing for federal money laundering on April 30, supporters have highlighted his cooperation with investigators, admission of guilt, and commitment to advancing the crypto industry. In contrast, his rival Sam Bankman-Fried, founder of FTX, has faced a less favorable reception as he serves time in prison.
Prosecutors Seek Three-Year Prison Term for Zhao
Despite the outpouring of support, federal prosecutors have requested a three-year prison term for Zhao following his guilty plea on money laundering charges. The sentencing is set to take place on April 30.
By: Web Summit
Posted April 25, 2024 at 2:13 pm EST
