Changpeng Zhao, the founder of cryptocurrency exchange Binance, is set to be released from federal prison on September 29, 2024, according to the U.S. Federal Bureau of Prisons website. Zhao, who is 47 years old, was sentenced to four months in prison in June after being convicted of charges related to his involvement in Binance’s operations.
Zhao’s release from prison comes at a time when Binance is facing increasing scrutiny from regulators around the world. The exchange has been accused of a number of violations, including money laundering and market manipulation.
Despite his legal troubles, Zhao remains a powerful figure in the cryptocurrency industry. His history with Binance and his role in its creation are likely to ensure that he continues to have a significant influence on the platform’s future.
It is possible that Zhao’s release from prison could benefit Binance’s native token, BNB. The token is often seen as a barometer of the exchange’s health, and investors may be more likely to buy BNB if they believe that Zhao will be able to help the exchange overcome its challenges.
However, it is also important to note that Zhao’s release from prison does not mean that Binance’s legal problems are over.
