Binance’s former CEO CZ is still out of jail, here is why?


Changpeng Zhao (CZ) is still waiting for a jail sentence, despite last month’s US court ruling against him for 4 months of jail sentence over money laundering charges. 

Changpeng Zhao (CZ) is the former CEO & co-founder of the Binance crypto exchange. Recently a US court judge ruled for 4 months jail sentence against him over operating the Binance crypto exchange without permission which helped people to transfer money to/from the US without any KYC documents. However, Binance & former CEO CZ were facing charges but there was no evidence against these allegations. It was CZ who admitted all the charges & mistakes done by him & his crypto company Binance in the past.

On 16 May 2024, Protos reported that Binance’s former CEO was still out of jail because the US Marshalls didn’t arrest him right away. Instead, the judge chose a fairly lenient option for him. Now, he’s waiting to hear from either the Probation or Pretrial Services Office.

Binance vs WSJ 

This is a bitter reality that the majority of the mainstream media use the “Binance” word in their news title related to Cryptocurrency reports, to get huge numbers of clicks for their reports. 

Recently Binance co-founder & chief customer service officer Yi talked about such concerns and criticised the Wall Street Journal (WSJ) for negative reporting around the Binance crypto exchange but at the same time said that WSJ’s negative reporting helped Binance to get free marketing. 

She also said that these media companies now failed to report against those players who are backing illegal crypto services.

In particular, she asked why the majority of the mainstream media is calm against the now-scammed crypto gambling platform ZKasino.

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