When is Binance founder CZ coming out of prison?

This week, some Binance fans took to X (formerly Twitter) to share their excitement that the exchange’s founder, Changpeng Zhao (CZ), was scheduled to complete his prison sentence on August 30. Unfortunately for them — and CZ — a quick fact-check reveals that he won’t actually be freed by that date.

On April 30, US District Judge Richard Jones sentenced CZ to four months in a Seattle prison, recommending Seatac, a prison and administrative security federal detention center.

Many observers apparently believed that CZ entered Seatac that same day, which would indeed have made August 30 his release date. However, CZ’s lawyers from prestigious law firms Quinn Emanuel Urquhart & Sullivan, Davis Wright Tremaine, and Latham & Watkins worked diligently to ensure that he earned a few extra weeks of freedom. 

An example of non-facts posted to Crypto Twitter.

Read more: No, Changpeng Zhao isn’t in prison yet — here’s why

As of May 16, CZ still hadn’t entered the custody of the Bureau of Prisons and it wasn’t until a few days later that CZ, his lawyers, probation, and pretrial services offices settled on a late-May entry date.

A current check of the Bureau of Prisons database also shows that CZ isn’t at Seatac but is instead incarcerated at Federal Correctional Institution Lompoc II, a low-security federal prison three hours north of Los Angeles.

When will CZ (actually) leave prison?

Unless CZ’s situation changes, he won’t be leaving FCI Lompoc II on AugUSt 30. Rather, his current release date is scheduled for September 29.

CZ’s Bureau of Prisons profile.

Read more: Binance founder Changpeng Zhao sentenced to 4 months in prison

As Protos covered last month, the US Constitution’s Fifth Amendment guarantees due process to all persons within the US, including non-citizens like CZ. This suite of guarantees includes all of the idiosyncrasies of CZ’s prison sentence, including his entry date almost one month after sentencing, his lower-security, non-Seatac facility, and earlier delays amid court proceedings.

Got a tip? Send us an email or ProtonMail. For more informed news, follow us on X, Instagram, Bluesky, and Google News, or subscribe to our YouTube channel.

Comments

Post a Comment

Popular posts from this blog

STX Hits 52-Week High! Ascending Channel Points to Bullish Trajectory

Image
Stacks (STX) soars 8.74% in 24 hours, hitting a 52-week high at $2.06, riding the crypto wave. STX’s rise is attributed to Bitcoin optimism and its role as a layer 2 solution. Technical analysis points to a bullish trend, aiming for $2.6, but watch out for potential corrections at $1.6. Stacks (STX) has continued its upward trajectory, with its price recently reaching a 52-week high of $2.06, marking an 8.74% increase in just 24 hours. This surge is part of a broader trend that has seen the cryptocurrency gain 749% over the past year. Market analysts attribute this impressive performance partly to the growing optimism surrounding the potential approval of a spot Bitcoin ETF, which could further galvanize the cryptocurrency sector. STX/USD 24-hour price chart (source: CoinStats ) During the bull rally, STX’s market capitalization and 24-hour trading volume surged 9.45% and 24.95%, to $2,852,664,529 and $715,025,179, respectively.  Stacks as a Bitc
Read more

XAI tanks by 20% after airdrop and Binance listing

Image
The layer-3 gaming token fell by more than 20% after an airdrop and Binance listing on Jan. 9. According to CoinGecko, the layer-3 gaming token Xai has fallen by more than 22% in 24 hour trading. The current price of the token is $0.5231. X rate fell sharply just a day after reaching an all-time high on Jan. 9, in which the price of the coin was $0.7734. Source: CoinGecko The token price collapse occurred shortly after Xai held its first major gaming token airdrop in 2024. According to the Xai Foundation, it offered 125 million XAI tokens (or 5% of the total token supply) to eligible users, including holders of certain Xai NFTs and those operating gatekeeper nodes or validators that help support the network. Dear Xai Community, As we approach the XAI token claim, it's crucial to stay vigilant against potential scams. Please carefully read and follow these guidelines: Official Contract CLAIM Address: The ONLY legitimate $XAI airdrop claim contract address is… — XAI (@X
Read more

Bitcoin Price Prediction: MicroStrategy Boosts BTC Ownership To 1% Of Supply As This Eco-Friendly Alternative Soars Towards $7 Million

Image
The Bitcoin price gained slightly in the last 24 hours to trade at $63,857.08 as of 9:05 a.m. EST as investors tentatively accumulate the crypto. During BTC’s 12% correction over the past 7 days, MicroStrategy bought another 9,245 bitcoins for $623 million in cash between Mar. 11 and Mar. 18, according to a Mar. 19 statement . Following this latest purchase, the company’s total BTC holdings stand at 214,246 BTC, which is more than 1% of the crypto’s total supply of 21 million coins. The Bitcoin Price Bounces Off Of A Key Support 4-hour chart for BTC/USDT (Source: TradingView ) The Bitcoin price rebounded off of the $61,481.65 support level in the last 12 hours. Should bulls continue to push the market leader’s price higher, it may attempt to reclaim a position above $65,847.29 in the coming 48 hours. A 4-hour candle close higher than this significant price point could then give BTC the foundation needed to keep climbing. In this more bullish scenario, the crypto may try to fli
Read more