And there are still a lot of questions about what he does next.
I failed here, Zhao said at his sentencing, according to theAssociated Press.
I deeply regret my failure, and I am sorry.
Changpeng Zhao, former chief executive officer of Binance, arrives at federal court in Seattle, Washington, US, on Tuesday, April 30, 2024.© David Ryder/Bloomberg via Getty Images
Prosecutors quoted Zhaos own words in acourt filingearlier this year.
But Zhao paid a fine of just $50 million in conjunction with his jail sentence.
Zhao currently has an estimated net worth of about $61 billion, according toForbes.
It all started when Zhao bought a 20% stake in FTX in 2019.
FTT was a token created by Bankman-Fried, so you’re free to see where this is going.
Bankman-Fried is currently serving a 25-year sentence for fraud and conspiracy.
Whats next for Zhao and will he be returning to Binance in any capacity to influence decisions?
Current CEO of Binance Richard Teng was asked that question earlier this week on the podcastAltcoin Daily.
CZs a major shareholder, Teng said.
Those questions are meant for CZ, theyre not meant for me.
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