On April 30, Judge Richard Jones sentenced Mr. Zhao to four months in prison, against the US Department of Justice's (DOJ) recommendation of three years.
Rabia Anwar, a London-based financial services lawyer, told crypto.news that Chao and FTX founder Sam Bankman-Freed have been involved in the The stories “were tied together,” he said. She explained:
“Although Mr. Zhao may have mentored Mr. Bankman Freed in the past before their relationship broke down, the way the two industry leaders conducted their respective businesses was very different. Mr. Bankman Fried was charged with fraud, including embezzling customer funds (some described it as theft). Mr. Zhao's case, on the other hand, was more concerned with the effectiveness of anti-money laundering controls. I have to.”
Rabia Anwar, an award-winning financial services lawyer, told crypto.news.
Many factors influenced the difference in sentencing between these two men. Anwar pointed to “the different nature of their actions, as well as the harmful and lasting impact the FTX scandal has had on innocent members of the public.”
Furthermore, many in the crypto community on X have been sharing the number “4” since Zhao’s ruling was announced. This is a signal and viral meme developed by Zhao to raise awareness about the four core principals behind Binance in 2023.
Autism Capital said Mr. Zhao “literally brought his prison sentence into existence.”
Immediately after the verdict, Mr. Zhao Posted After completing his prison sentence, he said he would “focus on the next chapter” of his life, pointing to “education.”
Cryptocurrency influencer Krypto Patel also expressed support for Mr. Zhao, saying, “He is not a criminal.” He added that Zhao is an “innovator” and “believes in a future powered by cryptocurrencies.”
Another X user named RobinTheFarmer pointed out Zhao's support for Terra (LUNA) and Luna Classic (LUNC) and their communities.
