Binance founder Zhao Changpeng (CZ) announced on December 9th last year that he would be taking a break from the community for some time. He disappeared for nearly two months until recently, on Chinese New Year’s Eve, when he once again spoke up to wish everyone a “Happy New Year.”
(Prior context:
CZ’s wealth increased by 25 billion pounds this year! Bloomberg reveals the 2023 list of cryptocurrency billionaires.)
(Background supplement:
Decrypt He Yi: Binance’s “Cryptocurrency Queen” who can’t be brought down! Can’t the U.S. Department of Justice bring her and CZ down together?)
Table of Contents:
CZ Disappears for Two Months
Attracts Response from Numerous KOLs
Prosecutors Seek Maximum Sentence of 10 Years?
After reaching a $4.3 billion settlement agreement with the U.S. Department of Justice last year, Binance and its founder Zhao Changpeng (CZ) were ordered by a judge to stay in the United States until February 23, 2024, when the sentencing takes place. CZ is not allowed to return to his residence in the United Arab Emirates (UAE) due to concerns of flight risk.
During this waiting period for the sentencing, CZ, since his announcement on December 9th last year that he would temporarily leave “X,” has not published any articles for nearly two months:
However, on Chinese New Year’s Eve, CZ’s long-awaited post expressed celebration to the larger community:
CZ’s long-awaited post, combined with the timing of the Chinese New Year, immediately attracted numerous KOLs who also wished him a Happy New Year. Additionally, many people requested his prompt return to the public eye.
With two weeks remaining until the court’s sentencing, the length of CZ’s sentence after pleading guilty and reaching a settlement is still unknown. However, what is his next plan after stepping down? Previously, he stated that he would take a rest and then continue providing necessary consultations for the Binance team.
Further reading:
Zhao Changpeng (CZ) resignation statement: Richard Teng is the new CEO of Binance! I made a mistake and must take responsibility.
According to previous reports by Dong Qu, legal experts believe CZ may face a sentence of no more than 18 months. However, U.S. prosecutors have also stated that they may seek a maximum sentence of 10 years for Zhao Changpeng:
With less than two weeks left until CZ’s sentencing hearing, Dong Qu will continue to track the updates for readers.
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