Changpeng Zhao, the founder and former CEO of the Binance cryptocurrency exchange, was sentenced to four months in prison after pleading guilty to money laundering charges.

He was sentenced in U.S. District Court in Seattle, as his lawyers’ efforts to place him on probation with no prison time failed.

Judge Richard A. Jones, who oversaw the case, said “Your conduct does not warrant a 36-month sentence.”

He called Mr. Zhao “a dedicated family man and a giving person” and praised his “staggering accomplishment” in building Binance.

Mr. Zhao, 47, in a brief remark to the court said “I failed here,” “I deeply regret my failure, and I’m sorry.”

On April 30, 2024, David Yaffe-Bellany reported from court that “Mr. Zhao pleaded guilty to only a single criminal count.”

Meanwhile, Nigeria awaits the extradition of Binance’s Africa regional manager, Nadeem Anjarwalla.

Recall that on March 22, 2024, Anjarwalla, Binance’s regional manager, and his colleague Tigran Gambaryan escaped from a guest house in Abuja; he apparently fled Nigeria with an East African passport. The guards brought him to a neighbouring mosque to pray in accordance with the Ramadan fast.

Garba Umar, vice president of the Interpol (Africa) executive committee, has pledged that he will be extradited.