Changpeng Zhao, better known as CZ, the founder and former CEO of Binance, has been released from a U.S. federal prison after serving four months on charges related to failing to implement proper Anti-Money Laundering (AML) controls at Binance. As part of a settlement with the U.S. Department of Justice (DOJ), CZ paid a personal fine of $50 million, while Binance was ordered to pay $4.3 billion in penalties.
CZ stepped down as CEO of Binance following his guilty plea in November, and Richard Teng took over the role. Despite no longer holding an executive position, CZ still retains a majority stake in Binance and remains active in the crypto community