CZ sentenced: A chronology of Binance’s legal battles in the US
Former Binance CEO Changpeng “CZ” Zhao was sentenced to four months in prison on April 30 in a Seattle courtroom for violating U.S. money laundering laws, following years of investigations by United States authorities.
During the hearing, Judge Richard Jones expressed that there was no evidence to suggest Zhao had been informed of any illegal activities at Binance, rejecting a recommendation from the Department of Justice (DOJ) to increase the sentencing guideline from 10 to 16 months in prison.
February 2018: Department of Justice begins to investigate Binance
Source: U.S. SEC
February 2022: Binance Holdings and Binance.US under investigation by the SEC
March 2023: SEC, CFTC accuses Binance and CZ of several violations
May 2023: DOJ targets Binance once again
June 2023: Binance and CZ are sued by the SEC
July 2023: Binance leadership departs
Source: Binance.US
August 2023: DOJ fears bank run on Binance
September 2023: Binance.US cuts staff, CEO resigns
November 2023: Binance and CZ indicted