U.Today - According to former SEC official John Reed Stark, ChangPeng Zhao (CZ), the former CEO of Binance, is now of up to 10 years.
As , the U.S. Department of Justice (DOJ) has charged and received a guilty plea from CZ for violating the Bank Secrecy Act.
The exchange also agreed to pay a massive $4.3 billion fine after being slapped with damning charges.
The DOJ's growing frustration
The DOJ expressed clear frustration after Magistrate Judge Brian Tsuchida allowed CZ to travel to and live in the UAE until his sentencing.
This decision is contentious given CZ's billionaire status, guilty plea, and residence in a country that does not extradite to the U.S.
All eyes are on the upcoming decision regarding CZ's travel permissions. Judge Richard A. Jones is expected to review Magistrate Judge Tsuchida's bail order soon, with significant implications for CZ's ability to leave the U.S. before sentencing.
CZ's future plans
CZ is especially excited about having more time to explore DeFi. He doesn’t envision himself leading a startup as a CEO again.
It remains to be seen whether or not CZ will be able to fulfill his plans.