Will CZ go to jail?

By Domifidsch | Crypto Scandals | 25 Nov 2023

Binance broke anti money laundering and sanction laws and agreed to a deal with the US authorities last week.


They agreed to pay 4.4Billion Dollars after they failed to report over 120 000 suspicious transactions which are considered to be done by terrorist groups including for example Al Qaeda or Hamas.


Which kind of consequences this could have for binance as a company is unclear yet but apart from that also CZ, former CEO and founder of Binance agreed to pay a fine of 150 Million Dollars. 


Last Wednesday (11.22) the prosecutors had a filing about the CZ and binance saga and said that CZ COULD face up to 18 Month of prison in the Us. There has been also a request of the Justice Department to bar him from returning home until he got sentenced. 


Czs lawyers are working hard at the moment to not let that happen but it seems like everything is possible at this moment. 

CZ is Saudi Arabian and Canadian citizen and he officially lives in Saudi Arabia at the moment

We know for sure that this case will keep us entertained for quiet a while now. So I will keep you updated.


What do you think about CZ? Did you loose trust into crypto because of what happened with him and FTX?

Have a good Saturday and Sunday, Friends.


Cheers 😃


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