SEATTLE—Binance founder Changpeng Zhao was sentenced Tuesday to four months in prison for allowing rampant money laundering on the world’s largest cryptocurrency exchange.
A judge credited Mr. Zhao for taking responsibility for his wrongdoing but said he was troubled by the now-former CEO’s decision to ignore U.S. banking requirements that would have slowed the company’s explosive growth. The sentence was far less than the three years prosecutors had sought, but defense attorneys had asked that Zhao spend no time in prison.
