According to a Bloomberg report on April 30, former Binance CEO Changpeng Zhao has been handed a four-month prison sentence. Zhao expressed remorse during sentencing, stating, "I failed here... I deeply regret my failure, and I am sorry."

This sentence is notably shorter than the three-year term sought by prosecutors, which was more than double the recommended guideline for the charges involved. Zhao's legal team had advocated for no prison time.

Additionally, a Fortune report mentioned that Zhao will pay a $50 million personal fine, enabling him to retain most of his $43 billion personal wealth. Following his guilty plea to the DOJ's charges in November 2023, Zhao resigned from his CEO position.