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Week 18 Alpha: Blast, ETFs, CZ sentencing and more
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Week 18 Alpha: Blast, ETFs, CZ sentencing and more

Physician on FIRE's avatar
Physician on FIRE
May 03, 2024
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Week 18 Alpha: Blast, ETFs, CZ sentencing and more
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TL;DR

  • CZ Sentenced to 4 months in prison

  • Tether invests $200 million in Blackrock Neurotech.

  • Ethereum fees hit 6-month low, hinting at altseason.

  • Crypto set to hit 1 billion users by 2025.

  • Russian lawmaker rules out immediate cryptocurrency ban.

  • SamouraiWallet co-founder pleads not guilty, posts $1 million bond.

  • Hong Kong ETF trading begins despite US security concerns.

Former Binance CEO Changpeng "CZ" Zhao arrives at federal court in Seattle, Washington, on April 30, 2024. US prosecutors want Changpeng Zhao, the founder and former chief executive of Binance, the world's largest cryptocurrency exchange, to serve three years in prison after he pleaded guilty to violating laws against money laundering. (Photo by Jason Redmond / AFP) (Photo by JASON REDMOND/AFP via Getty Images)

CZ Sentenced to 4 months in prison

Binance’s billionaire founder Changpeng Zhao was sentenced to four months in prison on Tuesday, after pleading guilty to charges of enabling money laundering at his crypto exchange.

“You had the wherewithal, the finance capabilities, and the people power to make sure that every single regulation had to be complied with, and so you failed at that opportunity,” U.S. District Judge Richard Jones said to Zhao in a Seattle federal court, according to a Reuters report.

The sentence handed down to the former Binance chief was significantly less than the three years that federal prosecutors had been seeking for him. The defense had asked for five months of probation. The sentencing guidelines called for a prison term of 12 to 18 months.

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