Sept 27 (Askume) – Binance founder Changpeng Zhao was released from a California correctional facility on Friday, Bloomberg quoted a U.S. Bureau of Prisons spokesman as saying.
Earlier this year, former CEO Zhao was sentenced to four months in prison at the world’s largest cryptocurrency exchange after pleading guilty to violating US anti-money laundering laws .
Askume could not immediately contact the prisons bureau for comment.
Prosecutors said Binance adopted a model that welcomed criminals and failed to report more than 100,000 suspicious transactions with designated terrorist groups such as Hamas, al-Qaeda and Islamic State.
They also said that Zhao’s exchange supported the sale of child sexual abuse material and received a significant portion of ransomware proceeds.
Binance agreed to pay a $4.32 billion fine, and Zhao also paid a $50 million criminal fine and $50 million in restitution to the US Commodity Futures Trading Commission.
