Court Delays CZ Sentencing Date to April
The sentencing for Binance founder Changpeng “CZ” Zhao has been rescheduled to April 30, according to a filing made in a Seattle Federal Court on Feb. 12. Initially set for Feb. 23, Zhao pleaded guilty to money laundering charges and could face up to 18 months in prison.
However, a recent prosecution filing on Nov. 24 suggests that he may receive a harsher sentence than originally expected.
The prosecution asserts that Zhao’s claims of facing only a brief sentence are unfounded and that he may face up to ten years in prison, the statutory maximum for his charges.
Some experts, such as former US Securities and Exchange Commission official John Reed Stark, believe that Zhao could receive a sentence of 12-18 months in a minimum security prison according to US sentencing guidelines.
Despite this, there is speculation that Zhao’s legal team will argue for no jail time or an alternative sentence, potentially combining prison time with home detention and probation. It remains to be seen what his final sentence will be when he is sentenced on April 30.