Changpeng Zhao, the founder and former CEO of Binance, is set to receive his sentence in a US court in Seattle on Tuesday. The Department of Justice recommended a three-year prison term based on the severity of the wrongdoing. However, Polymarket forecasters suggest a high chance that Zhao may be released sooner. They estimate a 42% likelihood of him exiting in less than six months. Shares are trading, indicating varying probabilities of different sentence durations, with an overall projection of a 96% chance that Zhao will be out in less than two years. Signatories, including former US Ambassador Max S. Baucus and Morgan Stanley Chief Executive Sean Yang, have written letters in support of Zhao. In a personal letter, Zhao admitted his failure to establish adequate compliance controls at Binance. This update does not offer any investment advice.
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