CNBC reported that the Seattle federal court has pushed back the sentencing verdict for former Binance CEO Changpeng Zhao to April 2024.
In its recent announcement, the Seattle federal court disclosed that the sentencing ruling regarding CZ’s alleged money laundering charges has been rescheduled to April 30th.
The statement did not provide an explanation for the delay.
Although CNBC sourced its information from Seattle federal court records, CZ’s lawyer, William Burck, opted not to respond to inquiries regarding the postponement or offer any commentary on the matter.
The hearing for CZ’s money laundering charges, originally set for late February, was anticipated to determine his sentence. However, it was rescheduled to April 30. Prosecutors are reportedly contemplating seeking a harsher penalty. While CZ could face a maximum of 18 months in prison under US Federal criminal laws, prosecutors may seek a longer sentence. Notably, significant events of 2023 included US institutions suing Binance and Binance reaching a settlement with the US.
In this scenario, Binance and its former CEO CZ acknowledged the allegations against them and settled by paying a $50 million penalty.
Binance, a Bitcoin exchange, agreed to a $4.3 billion fine, marking the largest fine in history.
Moreover, the court denied CZ permission to travel to Dubai, where he resides and holds a residence permit, and restricted him from leaving the USA. This postponement entails that CZ will be unable to travel outside the USA until the end of April.
