Nick
@nickobinna
According to the U.S. Bureau of Prisons website, Binance founder Changpeng “CZ” Zhao will be released from custody on September 29, after serving a four-month sentence for violating the Bank Secrecy Act. The case relates to an admission that Zhao failed to set up an adequate know-your-customer (KYC) program at Binance. As part of his sentence, Zhao also agreed to pay a $50 million fine and resign as CEO of Binance, which is now led by Richard Teng.
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