Binance Founder CZ Apologizes and Accepts Responsibility in Letter to Judge
Binance founder and former chief executive Changpeng “CZ” Zhao penned a letter to the judge overseeing his case on April 24, expressing remorse for his actions and accepting full responsibility for his “poor decisions.”
Zhao’s letter comes after he and Binance settled charges with the US Department of Justice (DOJ) in November 2023. Despite previously waiving the right to appeal any sentence up to 18 months, the DOJ is now seeking a 36-month sentence for Zhao.
In a letter addressed to U.S. Judge Richard A. Jones of the Western District of Washington, CZ acknowledged his failure to establish necessary compliance controls at the exchange.
He expressed remorse, stating, “There is no excuse for my failure to establish the necessary compliance controls at Binance,” while assuring the judge that this incident would be his only involvement with the criminal justice system.
Accompanying Zhao’s letter were 161 additional letters of support from family members, friends, and associates seeking leniency.
I would have gladly wrote a support letter for @cz_binance he has brought such a net benefit to the industry and to all the people he has touched over the years. Mad respect
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