Binance CEO Zhao Changpeng is about to be released from prison and was once the richest Chinese

On September 22, the U.S. Federal Bureau of Prisons' official website showed that Zhao Changpeng's current location was updated to the Long Beach Residence Reentry Administration in central California. This means that he is undergoing preparation and assessment before reentering society. If everything goes well, he will return to society on September 29.

Zhao Changpeng invested in Bitcoin in 2014 and became the technical director of OKCoin. In June 2017, he officially founded Binance, a digital currency trading platform (a global cryptocurrency exchange), and served as its CEO. At the end of 2021, with the surge in Bitcoin and many other cryptocurrencies, Zhao Changpeng became the richest Chinese with a net worth of US$94.1 billion (approximately RMB 634.8 billion), and also ranked among the top ten richest people in the world.

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On March 27, 2023, Zhao Changpeng and Binance were sued by the U.S. Commodity Futures Trading Commission (CFTC) for allegedly violating trading rules, accusing Zhao Changpeng and Binance of illegally operating a digital asset derivatives exchange. In June 2023, the U.S. Securities and Exchange Commission (SEC) filed 13 charges against Zhao Changpeng and Binance. On November 21, 2023, Zhao Changpeng pleaded guilty to charges of suspected money laundering. On April 30, 2024, Zhao Changpeng was sentenced to four months in prison in the United States.