Changpeng Zhao, known as 'CZ,' will be released from custody on September 29, after serving a four-month sentence for violating the Bank Secrecy Act.
Zhao's guilty plea included failing to set up an adequate KYC program at Binance and resulted in a $50 million fine, alongside stepping down as CEO.
After Zhao's resignation, Richard Teng was appointed as the new CEO of Binance, amidst the exchange facing further criminal charges related to U.S. sanctions.
Despite his imprisonment, Zhao's net worth remains substantial at an estimated $25.3 billion, making him potentially the richest person ever incarcerated in the U.S.
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