Changpeng Zhao, also known as CZ, was convicted of violating US money laundering laws in November and was free to travel in the US on a $175 million bail. A federal judge sentenced former Binance CEO Changpeng "CZ" Zhao to four months in prison for violating US money laundering laws. Before he was sentenced, CZ apologized for his actions and said he had "spent a lot of quiet time alone to think and reflect." He added that Binance accepts responsibility for not implementing an effective AML program.