TechFlow news, according to Reuters, Zhao Changpeng, former CEO of cryptocurrency exchange Binance, could face several years in prison during sentencing on Tuesday after pleading guilty to violating U.S. anti-money laundering laws. Prosecutors have informed Seattle District Judge Richard Jones that they are seeking a sentence twice the 18-month maximum recommended under federal guidelines.
The hearing began at 9:00 a.m. Pacific Daylight Time on Tuesday (00:00 China time, May 1). Robert Fisher, a partner at Boston-based law firm Nixon Peabody and former federal prosecutor, expressed surprise that prosecutors were still seeking a harsh sentence after Zhao’s guilty plea, though he suggested they may be trying to make an example given Zhao’s high profile. "Seeking a sentence beyond the advisory guidelines is unusual—they want it to serve as a deterrent," he said. Zhao’s legal team requested probation, citing his "unflinching" acceptance of responsibility and the $50 million criminal penalty he has already paid. They also noted that Zhao has no prior criminal record and that no defendant in similar cases has ever been sentenced to imprisonment.
