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Recently, according to a memorandum submitted by US prosecutors to the Western District Court of Washington, the US Department of Justice is actively pushing for the former CEO of the world's largest cryptocurrency exchange Binance, Zhao Changpeng, to be sentenced to 36 months in prison, proposing a sentence that exceeds the originally agreed-upon 18-month guideline sentence, on charges of money laundering.
Binance has been under investigation by US regulatory agencies for allegedly assisting criminals in transferring illicit funds. As early as November 2023, Binance pleaded guilty and reached a settlement with the US Department of Justice, the Treasury Department, and the Commodity Futures Trading Commission (CFTC), agreeing to pay a total of $4.3 billion in fines and restitution to the US federal government.
This fine has set a record in the history of Chinese entrepreneurship, equivalent to 1.7 times the 18 billion yuan fine imposed on Alibaba.
In 2021, Zhao Changpeng, with a net worth of nearly $90 billion, surpassed Zhang Shanshan to become one of the richest Chinese.
Public opinion on Zhao Changpeng has always been polarized.
Supporters believe that Zhao Changpeng, who did not complete his university education and started from scratch with technology, and who built industry confidence during bear markets, is one of the greatest Chinese entrepreneurs.
However, a series of events related to Binance, such as the victims being owed money in the Binance bankruptcy event, the misappropriation of 107 bitcoins from foreign users by Binance, multiple projects on the Binance Smart Chain "running away", and the forced liquidation event caused by the malicious disconnection of the contract market, as well as the lowbrow marketing tactics in recruitment advertisements, have dimmed the aura of the former richest man to some extent.
It's just that Binance and Zhao Changpeng have never been able to cooperate with any regulatory agency in any country. It's not that they don't want to, but no mainstream political entity is willing to bear such a huge risk of grey market transactions, which also means that they have always been subject to intense regulatory scrutiny from major countries around the world.
It can be seen that even one of the few exchanges in the cryptocurrency circle is like this, so how tortuous will the future of cryptocurrencies be? |
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Post time 7-5-2024 15:01:24