Binance founder Changpeng Zhao sentenced to four months

Binance founder Changpeng Zhao, who pleaded guilty to money laundering violations in November, was sentenced to four months in prison on Tuesday. U.S. prosecutors had recommended a 36-month sentence for Zhao. The crypto billionaire stepped down as Binance's CEO as part of his agreement with the Justice Department.

Changpeng Zhao, the founder of the world's leading cryptocurrency exchange, was sentenced on Tuesday to four months in prison after pleading guilty last year to charges that he failed to maintain an effective anti-money laundering program.