Former Binance CEO CZ(CZ) has been transferred to Long Beach and is expected to be officially released from prison at the end of September after completing his four-month sentence. Many communities cheered that the bull market is coming. CZ, who has been forced to stay in the United States since November last year and cannot be with his wife and children, is counting down to his freedom!
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ToggleCZ’s four-month sentence is about to end.
In November last year, former Binance CEO CZ(CZ) reached an agreement with the US government, ending the US government’s investigation of the world’s largest cryptocurrency exchange. As part of the settlement, CZ resigned as CEO of the company and Binance paid a sky-high $4.3 billion fine. CZ was sentenced to four months in prison in April, far less than the three years that prosecutors had advocated, after pleading guilty to charges of money laundering at his cryptocurrency exchange.
According toDecrypt , CZ was transferred this week from a prison in Southern California to the RRM (commonly known as a halfway house) in Long Beach, a residential facility for prisoners who are preparing for the end of their sentences. According to the US Bureau of Prisons, CZ will be officially released on September 29. This also means that CZ is still under the supervision of the US government and still cannot move freely.
CZ will start a new chapter in life
CZ was subject to travel restrictions for many months before he was sentenced. In March, he decided to launch Giggle Academy , which provides free online courses for students in grades 1 to 12. CZ said this was the most influential thing he could do for the next chapter of his life. .
Later, CZ also publicly issued a letter of apology, stating that he would bear all responsibilities.
Because I want to resolve this issue in front of a court and start over. I wanted to right my wrongs, turn the page, and start the next chapter of my life.
CZ noted in the letter that he later hopes to fund small research labs and use blockchain technology to provide medical services to billions of people around the world. We will also continue to invest time and energy in helping young people and improving education and the living standards of disadvantaged youth.
( Full text of CZ apology letter: Take all responsibilities and spend the rest of your life proudly )
CZ should be able to return to Dubai to reunite with his wife and children at the end of September
It is estimated that by the end of September, CZ should be able to regain his freedom of movement and may return to Dubai to reunite with his wife He Yi and their two children. He has been forced to stay in the United States since November.
According to a recent interview with Binance CEO Richard Teng, after CZ’s exit, his partner He Yi still plays a key management role within Binance.
