US prosecutors recommend a 36-month imprisonment for Binance founder.

Prosecutors in the United States are calling for Binance founder Changpeng “CZ” Zhao to serve 36 months in prison after he pleaded guilty to violating money laundering laws. The request for jail time was made in a court filing on April 23 by prosecutors preparing for Zhao’s sentencing on April 30. The filing argues that given the seriousness of Zhao’s violation and its consequences, a sentence of 36 months is appropriate. Additionally, the prosecutors state that the agreed $50 million fine, along with the prison sentence, strikes a balance and achieves the goals of sentencing. Zhao had already stepped down as CEO of Binance in November 2023 and had been fined $50 million. Reports indicate that federal guidelines set a maximum sentence of 18 months for Zhao, who had agreed not to appeal any sentence up to that length. He has been free on a $175 million bond. In order to resolve the criminal case, CZ and Binance agreed to pay $4.3 billion in fines to the U.S. government. Despite stepping down, CZ remains active in the cryptocurrency industry and recently announced a new educational project called Giggle Academy, aimed at a younger audience.