Bloomberg: Zhao Changpeng’s prison term is not expected to exceed 18 months

Binance Holdings Limited and its CEO Zhao Changpeng have admitted to committing money laundering and violating US sanctions, and have reached a comprehensive settlement agreement with the United States, allowing the cryptocurrency exchange to continue operating. In addition, Zhao Changpeng faces a maximum of 10 years in prison, but under the plea agreement, it is expected that the sentence will not exceed 18 months, which seems to spare him from the severe punishment faced by other famous cryptocurrency criminals. The US Department of Justice has not yet made a final decision on his imprisonment, and defense lawyers said in court that sentencing will be postponed for six months.