Binance founder Changpeng Zhao sentenced to four months in prison

[Stompix]

As I said a few days ago, the lighter the sentence the more likely he gave them everything and ratted everyone

I wonder if this means that SBF and co. will get even longer jail sentences as well as everyone else who Binance dealt with who has now been arrested.

No, it can't! He can't be trailed again on those charges, the DoJ has made it clear and the deal with the extradition would prevent him from having a second trial on any charges, including the ones that the DoJ dropped and did not go on prosecute. Same for the other guys everyone went on a plea deal on the terms they would face only a few charges against them, and the DoJ wouldn't risk making a fool out of them for a few extra months in prison.

The only thing that could bring him in trouble again would be documents revealing a new fraud unrelated to FTX but I really doubt that!

And obviously he is not scared of the United States either as Binance is not even based there.

He was scared enough to come on his own to the US, plead guilty to everything, pay 4 billion, cease every social media interaction since then, and so on.
As for being based there, common, there was a funny map on the net about US jurisdiction, with 800km from anywhere where an aircraft carrier can go! 
The guy has billions, do you think he would throw away a life in luxury for himself and three generations when he could simply comply with what the DoJ demands?
Imagine you would have 100 billion, would you risk freedom and life for ...what? Let's be honest about it!

[Zed0X]

I am very sympathetic to CZ on his case in USA and I was actually sad of learning that he is facing some possible jail time...now when the sentence finally came there is a big sigh of relief that it is just actually just four months.

I don't get why you're sympathetic towards him when he's just one of the many cunning businessman. If you've had your KYC with Binance before the case, most likely all your information and history has been handed out to the US law enforcement or maybe including Interpol. That's probably one of the main reason why he only got a light sentence.

[dkbit98]

I do not think Canada sued CZ but Binanace instead for violation of local securities laws. That Binance sold crypto derivative products to Canadians. I am expecting Binance CEO or a representative to be the one to handle the case instead and should not be about CZ prosecution.

CZ = Binance 
I don't know the exact details about this case, but I know it's not only US and Canada, they have legal problems in Philippines and maybe in some other countries.
Most people in CZ place would do things differently, but it's easy to be the general when the fight is over.
It's not that I am supporting CZ, but how things are going with latest arrests, we could be facing very dark future. 

[Z-tight]

4 months because he cooperated fully with the authorities and paid billions in settlement, i don't think anyone who was interested and followed this case closely would be surprised by the sentencing, maybe he could have got a few months in addition, but that is that.

Who could be next in the list of crypto service owners to be arrested and prosecuted?

[Baofeng]

4 months because he cooperated fully with the authorities and paid billions in settlement, i don't think anyone who was interested and followed this case closely would be surprised by the sentencing, maybe he could have got a few months in addition, but that is that.

Who could be next in the list of crypto service owners to be arrested and prosecuted?

If my memory serves me right, SEC has a pending case against Coinbase?

So most likely they will focused their attention against Coinbase, but the thing is that Coinbase is not going to back down from them and even got many support from crypto enthusiast.

[yhiaali3]

Yes, it is clear that he would have received a reduced sentence from the beginning as a result of his cooperation in the investigation, his admission of guilt, and of course having a lot of money.

His lawyers, experts in American law, must have advised him to cooperate and plead guilty to obtain a reduced sentence, and the huge fine that Binance paid to the US government (4.3 billion) and the 50 million paid by Zhao must have mitigated the anger of the government and the American judges who sympathized with him.

I wonder if Zhao had been a poor man who had no money, would the judges have sympathized with him?

[Lucius]

~snip~
I wonder if Zhao had been a poor man who had no money, would the judges have sympathized with him?

Justice is best served on those who are helpless (poor) and cannot afford expensive lawyers. This is the case in most countries in the world, and it especially applies to cases of a financial nature. But regardless of the fact that the US judge had mercy on CZ, maybe someone else in another country will not be so lenient - because if CZ did business in such a way in the US, what did he do in other countries?

[dkbit98]

So most likely they will focused their attention against Coinbase, but the thing is that Coinbase is not going to back down from them and even got many support from crypto enthusiast.

Sure thing.
Coinbase is next and then every other crypto exchange that is operating in United States, probably Kraken and Crypto.com are next on the line for them.
They are really getting serious and they can't have anything messing their plans for CBDC release, that is coming in next few years and I think people are so weak that most wil just accept that junk.

[Z-tight]

I wonder if Zhao had been a poor man who had no money, would the judges have sympathized with him?

That is not the case here, a 'poor man' would not own a cryptocurrency exchange that will give him the opportunity to commit the financial crimes that CZ and Binance committed. CZ pleaded guilty, paid billions of $, cooperated with authorities and gave them all the info and data they need, and that is why the sentence was light, it has nothing to do with sympathy from the judges.

[yhiaali3]

I wonder if Zhao had been a poor man who had no money, would the judges have sympathized with him?

That is not the case here, a 'poor man' would not own a cryptocurrency exchange that will give him the opportunity to commit the financial crimes that CZ and Binance committed. CZ pleaded guilty, paid billions of $, cooperated with authorities and gave them all the info and data they need, and that is why the sentence was light, it has nothing to do with sympathy from the judges.

It seems that you did not realize my hint. I am hinting here at the role of money in the case (under the table). A man who has a lot of money can spend some money to gain the sympathy of officials and even judges.

As you know money drives everything, even the four months that Zhao will spend in prison will most likely be comfortable as he will have all the amenities since he has enough money to live a comfortable life in prison.

[Z-tight]

As you know money drives everything, even the four months that Zhao will spend in prison will most likely be comfortable as he will have all the amenities since he has enough money to live a comfortable life in prison.

Sbf is a rich man and he comes from an influential family, but he got 25 years in prison, i know we can argue he should have got more, but if it was all about money then he should have got way less too.

I know the rich and influential can influence judgements in their favor, however, the reason why cz got 'only' four months has been stated in this topic already.

[yhiaali3]

Sbf is a rich man and he comes from an influential family, but he got 25 years in prison, i know we can argue he should have got more, but if it was all about money then he should have got way less too.

I know the rich and influential can influence judgements in their favor, however, the reason why cz got 'only' four months has been stated in this topic already.

Yes, what you said is true, but you said that he received a reduced sentence, as he was supposed to receive much more than 25 years. Also, according to the latest news, there are negotiations with the SBF now to obtain another reduction in his prison term if he cooperates with the authorities in exposing the celebrities who promoted FTX. In addition, we saw how he spends comfortable times in prison.

However, I am not saying that this always happens, but everywhere there are violations and loopholes of the law and there are always those who exploit them well.

[KingsDen]

4 months because he cooperated fully with the authorities and paid billions in settlement, i don't think anyone who was interested and followed this case closely would be surprised by the sentencing, maybe he could have got a few months in addition, but that is that.

Who could be next in the list of crypto service owners to be arrested and prosecuted?

The rich is always the rich. The goal is to extort him and have it in history that he was prosecuted and imprisoned. He corporated with the law enforcement agents as reason to mitigate his punishment is valid, but surely others things happend behind the scene.

CZ is not only an international figure, he is also one of the faces of cryptocurrency. So, any judge dealing with him will have to be very careful, if not for anything, because of posterity.

[notblox1]

Sbf is a rich man and he comes from an influential family, but he got 25 years in prison, i know we can argue he should have got more, but if it was all about money then he should have got way less too.

I dont think he is going to spend 25 years in prison, and he was doing much worse things that CZ did with Binance.
He connected with many politicians, and he gave them free donation money for their campaigns, and they sold him out later.
It is time to see all those politicians in jail.

[Lucius]

I dont think he is going to spend 25 years in prison, and he was doing much worse things that CZ did with Binance.
He connected with many politicians, and he gave them free donation money for their campaigns, and they sold him out later.
It is time to see all those politicians in jail.

Time will tell if those 25 years are a real punishment or just a show for the public - because there is also something called a presidential pardon, and would anyone be surprised if Bankman is released from prison much sooner than anyone hopes? The fact that these politicians did not immediately return the favor does not mean that they will not do so in the future, and perhaps they already partially did, considering what the punishment could have been (100+ years).