Here is When Changpeng Zhao Could be Released From Prison
This week, Binance enthusiasts on X (formerly Twitter) celebrated what they believed to be the upcoming release of the exchange’s founder, Changpeng Zhao (CZ), from prison on August 30.
However, a closer look reveals that this date is incorrect.
CZ was sentenced to four months in prison by US District Judge Richard Jones on April 30, with a recommendation for Seatac, a federal detention center. Many assumed CZ began serving his sentence on the same day, leading to the belief that his release would be on August 30.
However, his legal team, including renowned firms Quinn Emanuel Urquhart & Sullivan, Davis Wright Tremaine, and Latham & Watkins, successfully negotiated for a delay in his entry into custody.
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As of mid-May, CZ had not yet entered the Bureau of Prisons system. It was only later that a late-May entry date was agreed upon. According to the Bureau of Prisons database, CZ is currently incarcerated at Federal Correctional Institution Lompoc II, a low-security facility north of Los Angeles.
CZ’s actual release is now scheduled for September 29, not August 30. This delay aligns with the US Constitution’s Fifth Amendment, which guarantees due process, including the specifics of CZ’s sentence and the adjustments made during legal proceedings.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
