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A U.S. court has postponed the sentencing of Changpeng Zhao, the ousted CEO of the crypto exchange Binance, to April 30. A Seattle Federal Court notice did not share reasons for the delay in Zhao’s sentencing while his lawyer reportedly declined to comment on the matter.
Uncertain Times for CZ as He Awaits Sentencing
A U.S. court has postponed the sentencing of Binance founder Changpeng (CZ) Zhao on a money laundering charge from Feb. 23 to April 30. A Seattle Federal Court notice did not give reasons for the delay, and Zhao’s lawyer, William Burck, reportedly declined to comment on the postponement.
The court’s decision implies that CZ, a resident of the United Arab Emirates (UAE), will spend an additional two months in the U.S. As reported by Bitcoin.com News in November 2021, CZ pleaded guilty to violating the United States anti-money laundering laws. In addition, his cryptocurrency exchange also agreed to pay a fine of $4.3 billion for allegedly violating anti-money laundering and sanctions regulations.
After his guilty plea, Zhao subsequently stepped down from his position as the CEO of Binance and agreed to pay a fine of $50 million.
The revelation of the postponement of CZ’s sentencing follows media reports in late January revealing the Federal court’s refusal to approve his trip to the UAE for “hospitalization and surgery.” The judge reportedly rejected the request because CZ’s “enormous wealth” made him a flight risk.
Meanwhile, some observers believe both the court’s denial of CZ’s request to travel to the UAE before sentencing and the delay indicate that the former Binance CEO may not avoid jail time after all.
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