In the days leading up to his sentence for money laundering, Changpeng Zhao breaks his social media silence and receives an outpouring of sympathy.
The December 2023 accusations filed by the DoJ against Binance for money laundering, running an unlicensed money transmitter company, and violating sanctions sent shockwaves across the cryptocurrency industry. As part of the settlement, Binance paid $4.3 billion in penalties, and Changpeng Zhao (CZ), CEO of the business, resigned and admitted to money laundering.
Despite maintaining a moderate level of social media activity after the settlement, CZ suddenly disappeared in December 2023. But to appease his fans, CZ has returned to X and wished everyone a joyful Chinese New Year.
Changpeng Zhao made an impressive return to X after a two-month absence, wishing everyone a happy Chinese New Year in anticipation of the festivities that will begin on February 10.
The Year of the Dragon, which will begin in 2024, is said to bring about prosperity and expansion while laying the groundwork for future achievements.
Most people were kind in their reactions to CZ’s Christmas letter, and many even sent him well wishes for the new year. Sjuul, CEO of AltCryptoTalk, interjected to express, “We truly missed you,” while X influencer “doncrypto” questioned CZ, “When come back??.”
Although brief, CZ’s speech conveyed hope for the next year in spite of ongoing legal uncertainty due to the DoJ allegations.
To avoid jail time leading up to his sentencing on February 23, CZ posted a substantial $175 million bail in November 2023 after pleading guilty to money laundering charges brought by the Department of Justice.
But a federal court decided in December 2023 that Changpeng Zhao hadn’t shown enough “evidence” to warrant a sentence hearing return. Because of his immense fortune and lack of American ties, the court ordered him to stay in the US.
Upon his return to the United Arab Emirates, the defendant has failed to prove “by clear and compelling evidence that he is not likely to abscond,” the federal court said.
The time in question saw CZ blogging often on X, with topics ranging from stoicism and biotech research to dietary improvements and overall wellness. But things came to a close on December 9th, with a message thanking everyone for their support throughout the legal issues.
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