One significant point in Zhao’s favor is his extraordinary acceptance of responsibility. According to the court document, the Probation Office has recognized his conduct as “remarkable” and “exceptional”.
By Chimamanda U. Martha
Edited by Julia Sakovich
Updated
3 mins read
The defense team representing Binance co-founder and former CEO Changpeng Zhao (CZ) has formally addressed the recent request from the US Department of Justice (DOJ) for a three-year jail sentence before the April 30 hearing.
According to a recent court filing at the US District Court for the Western District of Washington, the lawyers are advocating for probation instead of the 36-month prison sentence sought by the prosecutors. The defense cited Zhao’s status as a first-time and non-violent offender as a primary basis for leniency in sentencing, adding that CZ committed a crime with no intention of harming anyone.
The attorneys also pointed out several factors to support their case, including highlighting the nature and circumstances of the offense.
The defense said Zhao pleaded guilty only to anti-money laundering (AML) compliance failure, with no allegations of involvement in more serious financial crimes such as money laundering, fraud, theft, market manipulation, or other unlawful activities. They also touched upon CZ’s background and positive contributions to the crypto economy, painting him as a family-oriented individual.
Additionally, the defense said that Zhao has cooperated with law enforcement to combat crypto-related crimes and has been involved in charitable initiatives through Binance Charity and educational efforts, helping millions of people worldwide.
The attorneys also argue for probation based on legal precedent and the need to avoid sentencing disparities. They claim that CZ’s case is similar to that of BitMEX’s prosecution, where the defendants served probation instead of going to prison. Furthermore, the defense points out that non-citizen defendants like Zhao would face harsher conditions if imprisoned, making home confinement in a reputable US-based global security firm in the UAE a more appropriate option.
One significant point in Zhao’s favor is his extraordinary acceptance of responsibility. According to the court document, the Probation Office has recognized his conduct as “remarkable” and “exceptional”, citing his voluntary appearance to plead guilty, substantial financial penalties totaling over $4.3 billion, and stepping down from his roles at Binance.
The defense believes that these points could earn him probation instead of three years in prison, as the DOJ requested. However, the outcome will be seen next week.
CZ has formally apologized to Judge Richard A. Jones, who oversees the case, for the lack of AML measures in Binance during his tenure as CEO. On April 24, Coinspeaker reported that the former Binance boss apologized and pledged never to falter or face the criminal justice system again.
The Chinese-born Canadian citizen has also received support from members of the crypto community, including family, friends, and colleagues, who have pleaded for reduced sentencing.
These well-wishers have sent numerous letters to the court pleading for probation rather than the proposed 36-month sentence for the Binance founder. Some industry executives, like BitMEX co-founder Arthur Hayes and HTX Justin Sun, believe that CZ may face unfair treatment as a non-citizen of the United States if the prosecutors deny the probation plea.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
