- Federal prosecutors have filed a ruling in the Binance case.
- The authorities are asking to approve the deal with the exchange, thus closing the case.
- The company’s former CEO also pleaded guilty, he will be sentenced, presumably at the end of April 2024.
The US Federal Prosecutor’s Office urged the court to accept the plea bargain of the exchange Binance, thus closing the case. This is reported by Bloomberg.
According to the publication, the corresponding motion the prosecution filed on February 16, 2024. It states that the sentence, as well as the imposed fine “was appropriate”:
“Given the nature and seriousness of Binance’s misconduct, it was willful, concerted and caused hundreds of millions of dollars in collateral damage, the amount of the fine in the plea agreement was justified,” the publication cites the ruling.
The deal provides for federal supervision of the activities of the exchange for a period of five years.
Recall, Binance paid a fine of $4.3 billion, the largest screed in the corporate sector in the history of the United States.
The company pleaded guilty to aiding and abetting the laundering of funds. In addition, the CEO of the exchange Changpeng Zhao left his post.
The court was to sentence him at the end of February 2024, but the hearing was postponed until April.
Zhao faces up to 10 years in prison. However, he made a deal with the authorities, so his sentence is likely to be reduced to 18 months.
