💨 Abstract

Binance founder Changpeng Zhao has been released from a California correctional facility after serving a four-month prison sentence for violating U.S. money laundering laws. Prosecutors claimed Binance's exchange supported criminal activities, such as transactions with designated terrorist groups, child sexual abuse materials, and ransomware proceeds. Binance agreed to a $4.32 billion penalty, and Zhao paid a $100 million fine.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖