CZ Defense seeks probation, citing his non-violent offense.
Emphasis grow on Zhao’s acceptance of responsibility and positive contributions.
In the upcoming sentencing hearing for former Binance CEO Changpeng “CZ” Zhao on April 30, his defense team has fervently advocated for probation rather than the 36-month prison term sought by US prosecutors. In a sentencing memorandum, Zhao’s attorneys outlined compelling reasons for leniency.
Central to the defense’s argument is Zhao’s status as a first-time, non-violent offender whose offense solely pertains to anti-money laundering compliance failure. Notably, the government did not accuse him of involvement in more serious financial crimes such as money laundering or fraud.
Emphasizing Zhao’s personal history and commitment to positive change, his attorneys highlighted his dedication to family, philanthropic endeavors through Binance Charity, and collaborative efforts with law enforcement to combat crypto-related crimes. They underscored his acceptance of responsibility, evidenced by his voluntary return from a non-extradition country to plead guilty and substantial financial penalties, including a $4.3 billion fine.
Moreover, the defense argued that probation aligns with legal precedent, citing similar cases like BitMEX where defendants received probationary sentences. They also raised concerns about potential disparities in sentencing, particularly considering Zhao’s noncitizen status and the harsher conditions he might face in prison.
Does Community Support CZ?
The crypto community has rallied behind Zhao, expressing unprecedented support for his release or a minimal sentence. Hundreds of letters from family, friends, colleagues, and industry participants have flooded the court, advocating for probation.
In light of these factors, Zhao’s defense contends that probation, potentially including home confinement in Abu Dhabi, is a more appropriate and just outcome, highlighting his minimal risk of re-offending and ongoing positive contributions to society.