Changpeng Zhao (CZ), the former CEO of Binance, is set to walk free today, according to reports. Originally scheduled for release on September 29, Fortune reported that CZ will be released two days early due to his release date falling on a weekend. After serving four months in a California prison, CZ is expected to reunite with his family, possibly in Dubai or Paris.

Binance expressed joy over his release, noting, "While he is not managing or operating <a href="https://www.cryptoknowmics.com/news/binance-appoints-richard-teng-as-ceo-after-changpeng-zhao-steps-down/" target="_blank" rel="noopener">Binance</a>, we are excited to see what he does next." Despite CZ’s absence, the crypto exchange continues to thrive, boasting over 229 million global users.
<h2>Details of Imprisonment</h2>
[embed]https://twitter.com/FortuneMagazine/status/1839447586484130092[/embed]

CZ served his sentence in a minimum-security prison in California before being moved to a halfway house in Long Beach. The billionaire, estimated to have a net worth of $60 billion, was sentenced in April for failing to implement adequate anti-money laundering controls at Binance. He pleaded guilty to violating the US Bank Secrecy Act and paid a $50 million fine.

As part of his settlement, CZ is barred from direct involvement in Binance’s day-to-day activities, though he remains the company’s largest shareholder. Binance, no longer operating in the U.S., continues to face legal issues, including an ongoing battle with the U.S. Securities and Exchange Commission (SEC).
<h2>BNB Token Surges</h2>
Following the news of CZ’s impending release, Binance’s native token, BNB, saw a significant price increase, hitting a two-month high of $609. The asset has surged 26% in the past three weeks, fueled by a broader market recovery.

<em><strong>Disclaimer: </strong></em>The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Changpeng Zhao to Be Released Early from California Prison

Changpeng Zhao, ex-CEO of Binance, released two days early from prison. BNB surges to $609 as crypto markets recover.

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more
than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

Changpeng Zhao to Be Released Early from California Prison

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