Changpeng Zhao personally addressed Judge Richard A. Jones, expressing remorse and taking full accountability for the actions of the exchange’s management.
“I hold no justification for my negligence in establishing the essential compliance controls at Binance,” confessed the co-founder of the company.
Moreover, Changpeng Zhao pledged to dedicate his immediate future to supporting budding entrepreneurs and startups in the burgeoning field of biotechnology.
In a remarkable display of solidarity, Changpeng Zhao’s family and friends also reached out to Judge Richard A. Jones. An astounding total of 161 letters were sent (!), pleading for leniency. The defendant’s sister, Jessica Zhao, affirmed that although her brother made mistakes, he always endeavored to bring about positive change for others. Yang Weiqing, the disgraced CEO’s wife, highlighted Binance’s philanthropic efforts, including a generous donation of millions of yen to disaster-stricken prefectures in Japan back in 2018.
In a prior development, the US Attorney’s Office had demanded a 36-month prison sentence for Changpeng Zhao, citing alleged intentional violations of the country’s laws.