EX-Binance Chief Changpeng Zhao’s sentencing in a US court

Binance’s former chief Changpeng Zhao’s sentencing in a US court, federal prosecutors are seeking a three-year prison term and a $50 million fine for money laundering charges. Zhao, a Canadian national, resigned from his position as part of a deal with US authorities, with Binance agreeing to a record $4.3 billion settlement in February over related charges. Prosecutors allege that Binance failed to prevent transactions by terrorist groups due to Zhao’s decisions violating US anti-money laundering laws. Defense attorneys argue for probation, citing Zhao’s acceptance of responsibility and philanthropic record. The case reflects a significant crackdown on the cryptocurrency industry, with Binance’s new CEO emphasizing compliance efforts. The sentencing outcome will set a precedent for the industry, with the Justice Department seeking a strong message.