collins124
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The cryptocurrency market is currently experiencing a bullish trend, but the same can't be said of Binance's former CEO Changpeng Zhao, who will be facing potential jail time after admitting to violating US anti-money laundering laws.
The US Justice Department is now pushing for a longer prison sentence than the initial 12-18 months and is also denying CZ's request to travel despite his trial starting in February 2024.
Following the news of CZ's guilty plea, more than $1 billion was withdrawn from Binance as investors sought out more secure options due to the uncertainty surrounding exchanges and US regulations.
This raises the question of how this situation will impact the long-term future of cryptocurrency, as well as which exchanges are best for investors at this time.
For more information about the case, I recommend reading this article: What’s next for Binance’s Changpeng ‘CZ’ Zhao?
The US Justice Department is now pushing for a longer prison sentence than the initial 12-18 months and is also denying CZ's request to travel despite his trial starting in February 2024.
Following the news of CZ's guilty plea, more than $1 billion was withdrawn from Binance as investors sought out more secure options due to the uncertainty surrounding exchanges and US regulations.
This raises the question of how this situation will impact the long-term future of cryptocurrency, as well as which exchanges are best for investors at this time.
For more information about the case, I recommend reading this article: What’s next for Binance’s Changpeng ‘CZ’ Zhao?