The Department of Justice (DOJ) is recommending that Changpeng Zhao, the founder of the world’s largest crypto exchange, Binance, serve 36 months in prison after he pleaded guilty to violating money-laundering laws.
Federal prosecutors on Tuesday also recommended Mr. Zhao, who founded Binance in 2017, pay a $50 million fine, according to a sentencing memo filed with the U.S. District Court for the Western District of Washington.
