A sentencing hearing has been scheduled for Feb. 23, 2024, at 9 a.m. Pacific Time for former Binance CEO Changpeng "CZ" Zhao.
The US Department of Justice, as you indicate, uh, is telling the court that it wants, uh, CZ to stay put. Uh, he's, he's not from here, they say, and he's, he's got passports from other countries making him a flight risk potentially. Uh But CZ actually, as we know, did show up uh voluntarily in Seattle to plead guilty and his lawyers are arguing that this suggests he can be trusted to appear again uh to accept his punishment. And if he doesn't, he forfeits 100 and $75 million bond, which is substantial. Uh, it's, it's unclear uh what his sentencing may bring at this point. But the high end of the sentencing guideline guidelines would, would indicate as much as uh 18 months in prison. Uh And he's given up the ability to appeal. Uh The DOJ can argue for a much longer sentence of as long as a decade.