I know this may be a day or two late, but times are busy.

Back in November 2023 CZ pled guilty to money laundering. He was sentenced to four months in prison after taking a plea deal. Apparently prosecutors were seeking a 36-month sentence. Here is an article talking about this: https://www.cnbc.com/2024/04/30/binance-founder-changpeng-zhao-cz-sentenced-to-four-months-in-prison-.html 

I have written in the past about how I think the legal system will help build cryptocurrency into an acceptable part of society as the criminals and fraudsters are weeded out. I do not know what to think about CZ. On the one hand, he had helped build Binance into a powerful business. On the other hand, at times he (only in my opinion) acted like a fraudster acting with brashness in hiring when the market in all areas was downsizing it's workforce to stop the financial bleeding. We all know no one can stop the markets from being real and at times destructive. We also know, those who are great see the trends coming before others do, and bet early on the ups and the downs.

Apparently CZ admitted he failed to implement safeguards at Binance to stop money laundering. Did he say it because he means it, or did he say it because he was looking for a lighter sentence? We don't know, and does it matter? it is important hat he said it.

As I wrote earlier, In the past when things like this happen, I feel strongly it is a good thing that the criminals are caught. I am not sure of this one, maybe because I have not followed the case as close as I should have. Regardless, he has been convicted of a felony.

Time will tell how this plays out.  Either way, he is still a billionaire.