Contrary to the expectations of some community members, Binance founder and former CEO Changpeng Zhao (CZ) will not be released in August. This was highlighted by Protos.
BIG BREAKING ?
CZ is getting out of prison next month: sources ?
Soon my bro is back @cz_binance pic.twitter.com/L2INUFEDXc
— Pain | Akatsuki? (@Pain_Bsc) July 25, 2024
Some mistakenly announced a specific release date for the entrepreneur — August 30, the publication noted.
On April 30, a court in Seattle (USA) sentenced Zhao to four months in prison. Judge Richard Jones recommended a federal correctional facility in the suburb of SeaTac for serving the sentence.
“Many observers apparently assumed that CZ entered prison on the same day. This would indeed make August 30 his release date. However, expensive lawyers from Quinn Emanuel Urquhart & Sullivan, Davis Wright Tremaine, and Latham & Watkins ensured him a few additional weeks of freedom,” the journalists emphasized.
In reality, Zhao began serving his sentence in late May at a federal prison in Lompoc, California. The Lompoc II facility has less stringent conditions compared to those suggested by Judge Jones.
Data from the Federal Bureau of Prisons indicates that CZ is scheduled for release on September 29. This will occur if “nothing changes” for him, added Protos.
Prosecutors had sought a 36-month sentence for Zhao. CoinDesk explored the reasons behind the significant reduction in his sentence.