Former Binance CEO Changpeng Zhao plans to remain a passive crypto holder despite receiving a prison sentence for violating US laws.
Statement on Social Media
Zhao expressed gratitude for support and stated his intention to “do [his] time” and focus on education after completing his sentence.
Positive Stance on Crypto
Despite the setback, Zhao remains optimistic about crypto, saying he will continue to hold crypto assets. He believes the industry has entered a new phase where compliance is crucial.
Sentencing and Background
In November, Zhao stepped down as Binance CEO after pleading guilty to anti-money laundering violations. Prosecutors sought a three-year prison term, while Zhao’s lawyers requested probation. Judge Richard Jones sentenced Zhao to four months in prison, citing his failure to follow regulations.
