The sentencing date for Changpeng "CZ" Zhao, the founder of the cryptocurrency exchange Binance, has been postponed to April 30. Originally, the sentence was to be announced on February 23, after Zhao pleaded guilty to money laundering charges. According to documents filed in the Federal Court of Seattle on February 12, he could face up to 18 months in prison, although there was previously mention of the possibility of a more severe punishment.

The defense argues that Zhao deserves only a short prison term and poses no flight risk, while the prosecution insists on the right to seek a maximum penalty of up to ten years. Experts suggest that the actual sentence could range from 12 to 18 months, but Zhao's defense team may push for alternative forms of punishment, such as house arrest or probation.

Zhao is currently free on a $175 million bail and awaits sentencing in the US. His attempts to leave the country were denied by the court, which expressed concerns about the possibility of his flight. As collateral for the bail, Zhao offered his stake in Binance.US, valued at approximately $4.5 billion.

Zhao pleaded guilty to violating Binance's anti-money laundering program and reached a $4.3 billion settlement with the US government for allowing illegal financial operations through the exchange. As a result, he stepped down as CEO of Binance.