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International Business Times

Business

Marvie Basilan

Lawyers For Binance's CZ Decry US Prosecutors' Proposed 3-Year Sentence

Changpeng Zhao Binance CZ United States Crypto DOJ

Changpeng Zhao turned Binance into the world's largest crypto exchange. (Credit: AFP)

KEY POINTS

U.S. prosecutors said Zhao 'bragged' about breaking the law to make Binance as big as it is today
CZ's lawyers argued that the crypto magnate should only be sentenced to probation
A total of 161 individuals wrote letters of support on Zhao's behalf ahead of his April 30 sentencing

Binance's co-founder and former CEO Changpeng Zhao may face three years behind bars after U.S. prosecutors argued that he should spend 36 months in prison for violating the Bank Secrecy Act.

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