Binance founder CZ receives support from crypto community as jail term starts
Once he completes his four-month sentence at Lompoc prison, Zhao plans to resume his involvement in cryptocurrency.
Changpeng Zhao, the founder of Binance, the world’s largest cryptocurrency exchange, has reported to a low-security federal prison in Lompoc, California, to begin serving his sentence.
According to a CNBC report, the information was verified with his legal team at Latham and Watkins.
Members of the crypto community have expressed their admiration for the former CEO as he is taken into custody. A Reddit user mentioned that the prison sentence is a positive move by CZ, as it protects Binance from potential risks. User Ilsemprelaziale wrote:
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Author: Amaka Nwaokocha
