Binance co-founder He Yi says CZ received ‘most optimal outcome’
The mother of CZ’s children sought to dispel concerns about the former CEO’s fate as he awaits sentencing in the United States.
Former Binance CEO Changpeng Zhao, often known as CZ, is in a “positive situation,” according to the cryptocurrency exchange’s co-founder He Yi. CZ is set for sentencing in the United States on one felony charge on April 30.
Yi “dispelled concerns over the regulatory status” at the Binance Chinese Meetup held on the sideline of the Token2049 conference in Dubai, according to the company’s newsfeed. The post did not quote her directly, but added Yi said that:
When he is sentenced in the District Court of Western Washington, CZ could receive a prison term of up to 10 years. The sentence recommended in the guidelines is 12 to 18 months. The single charge resulted from a settlement reached in November that also required the company to forfeit $4.3 billion. That settlement forced CZ to resign as Binance CEO.
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Author: Derek Andersen
