Changpeng “CZ” Zhao, the former CEO of cryptocurrency exchange Binance, has revealed that he intends to “write something” during his impending four-month prison sentence.
CZ continued to be active on social media before and after the sentencing hearing, making vague references to his plans on X. On May 11, CZ posted X, “I got some “quiet time” coming up. Will use that to write something.”
One user also suggested writing a book about, “The True Story of CZ.” Replying to the user, he also said he had “nothing else to do”, until his reporting date.
Judge Richard Jones sentenced Zhao to four months in prison during a hearing on April 30. The former CEO of Binance entered a guilty plea to a single felony charge related to the exchange’s failure to keep up a functional anti-money laundering program.
Zhao is scheduled to report to either the Federal Detention Center SeaTac in Washington or the Camp at the Federal Correctional Institution Sheridan in Oregon, with the date yet to be determined.
In November 2023, he entered a guilty plea to the felony charge. A $175 million bond allowed him to be released from prison and travel within the United States.
As part of an agreement reached in November between Binance and US authorities, Zhao had already paid a $50 million fine. The cryptocurrency exchange consented to pay $4.3 billion to resolve “civil regulatory enforcement actions,” but the case did not end the Securities and Exchange Commission’s lawsuit.
