Re: Binance reaches deal to pay $4.3B settlement to American regulators
SBF's did fraud on unbelievable scale so he's going to be made example by the American govt. He's going to spend many years of his life away from society. He's going suffer when he's released because he won't have money. CZ getting max 18 months looks light because of the plea deal. At least when CZ's going to be released to society his billionaire status won't be altered.
He's resigned from Binance but what's going to happen to his Binance shares. In America are convicted money launderers allowed to keep shares in companies they've used to launder?
He's resigned from Binance but what's going to happen to his Binance shares. In America are convicted money launderers allowed to keep shares in companies they've used to launder?
CZ did nothing compared to SBF. We could say CZ did a minor offense (misdemeanor?) while SBF did all of the contrary. By paying the $4B fine, CZ will be facing minimal jail time. He won't lose his fortune, as well as his reputation. Whenever he gets to keep his shares on Binance or lose it all, is yet to be seen. The court will ultimately decide CZ's sentence.
I see the current series of events as a new beginning for Binance exchange and the crypto industry as a whole. Confidence will be restored, while industry players will work closely with regulators in the long run. CZ can still have an influence over Binance without the need to be a CEO. He will be more of an advisor to the company than anything else. Who knows if BNB is bound to return to its former glory soon?
