fbpx

Type to search

Business

What is the wealthiest prisoner in America worth?

What is the wealthiest prisoner in America worth?

Earlier this week, Changpeng Zhao, the creator of Binance, the biggest cryptocurrency exchange in the world, was given a four-month prison sentence.

The 47-year-old former CEO of a significant cryptocurrency exchange received his sentence in Seattle last year for breaking sanctions and anti-money laundering rules in the US.

With a net worth of $43 billion, Zhao—who was formerly the most prominent person in the cryptocurrency industry—is also the richest person incarcerated in the United States, and maybe the whole globe, according to a Bloomberg story cited by Hindustan Times.

With this, he also joins Sam Bankman-Fried of FTX as the second significant cryptocurrency mogul to get a jail sentence.

According to Bloomberg, Zhao’s fortune is anticipated to grow even more during his imprisonment as a result of the current cryptocurrency bull run.

Furthermore, even though Zhao resigned as CEO of Binance, he still owns around 90% of the business, and several of his close pals are supposedly on the board of directors.

Thanks to US District Judge Richard Jones, Zhao was sentenced to a lower jail time than the prosecutors had requested.

The punishment is less than the maximum of one to one and a half years that the federal guidelines indicate.

In contrast, Bankman-Fried, the head of FTX, was sentenced to 25 years in prison; nevertheless, he plans to appeal both his conviction and sentence.

Tags:

Leave a Comment

Your email address will not be published. Required fields are marked *