coinspress.com
Changpeng 'CZ' Zhao, the co-founder and former CEO of Binance, penned a heartfelt apology to the court on April 24 as he awaits sentencing for criminal charges.
Expressing deep regret for his actions, Zhao acknowledged his past errors and accepted full accountability.
He lamented the delayed implementation of compliance measures at Binance, underscoring the eventual enforcement of stringent controls under his leadership.
Despite the challenges, Zhao expressed optimism for the future, vowing never to repeat the mistakes of the past and hoping for an opportunity to make amends.
Alongside Zhao’s plea for forgiveness, numerous letters of support poured in from various quarters, illustrating his reputation as a dedicated leader and his commitment to personal and professional integrity.
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While some advocated for leniency, Zhao refrained from directly requesting a reduced sentence, leaving the final decision in the hands of the court.
The US Department of Justice seeks a 36-month prison term and $50 million in fines against him, underscoring the gravity of the situation.