Crypto:
30253
Bitcoin:
$66.064
% 0.17
BTC Dominance:
%54.0
% 0.46
Market Cap:
$2.41 T
% 1.30
Fear & Greed:
74 / 100
Bitcoin:
$ 66.064
BTC Dominance:
% 54.0
Market Cap:
$2.41 T

CZ Faces Sentencing: U.S. Recommends a 3-Year Prison Term

Cz

The sentence of Changpeng “CZ” Zhao, founder and former CEO of Binance, is set to be held in Seattle, United States, court on Tuesday. Considering the severity of his offenses, the DOJ (Department of Justice) in the recent sentencing letter suggested a three-year prison term.

Polymarket bettors think he’ll be gone a lot sooner.

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The chances of CZ staying out for less than six months are 42% since, yes, shares for a contract less than six months were trading at somewhat 42 cents on Monday on the crypto-based prediction market platform.

The trading levels give him a 17% chance of receiving 6–11 months and a 19% chance of getting 12–17 months. On average, the likelihood is that he will soon be let go from prison within 2 years, with a less than 2% probability of a 30- to 35-month sentence, which is what the federal government is asking for.

The dealers count on the judge managing to reduce the sentence significantly compared to the DOJ’s request as long as they get enough letters in their support.

In his very own letter, CZ said, “There is no excuse for my failure to establish the necessary compliance controls at Binance.” He also promised that this would be his last “encounter with the criminal justice system.”

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