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Anticipated Prison Sentence for Binance’s CZ by Polymarket

Apr 29, 2024

Changpeng “CZ” Zhao from Binance is expected to receive a prison sentence in Seattle, Washington, according to the Department of Justice. The DOJ is recommending a three-year prison term due to the severity of his actions.

Polymarket traders predict a shorter timeframe for CZ's incarceration. The chances indicate a 17% probability of 6-11 months and a 19% probability of 12-17 months.

The statistics suggest CZ has a 96% chance of being released within two years, with less than a 2% possibility of receiving a 30-35 month sentence, similar to what the authorities are seeking.

Various influential figures, including the former U.S. ambassador to China, scholars from Columbia and McGill Universities, Sean Yang from Morgan Stanley, and members of the royal family in the UAE, have written letters supporting CZ. These letters aim to persuade the judge to lessen the punishment, contrary to the DOJ's recommendations.

In his own letter, CZ admitted fault for not establishing necessary compliance controls and assured that this legal issue would be his only involvement with the criminal justice system.

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