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"former china's richest man" zhao changpeng may be released from prison earlier.

changpeng zhao, founder of binance. data map

on september 27, according to fortune (fortune magazine), binance founder changpeng zhao will be released early this friday, two days earlier than the previous official date of september 29, because if the release time coincides with on weekends, inmates may leave prison early. zhao changpeng's lawyer said he did not want to be interviewed on the day he was released from prison.

according to the official website of the us federal bureau of prisons (bureau of prisons), zhao changpeng's current location has been updated to the long beach residential reentry management (rrm) in central california. he will be released on september 29.

the residential reintegration administration, also known as a "halfway house," serves as the federal bureau of prisons' local liaison to federal courts, the u.s. marshals service, and state and local correctional agencies, and contracts with federal prisons , providing community services to prisoners about to be released to meet their reintegration needs into society.

in april this year, changpeng zhao was sentenced to four months in prison by a federal court in seattle for failing to implement an effective anti-money laundering framework, making binance a viable platform for cybercrime and terrorist activities.

fortune magazine reported that after being sentenced to prison, changpeng zhao served about two months in a minimum-security prison in the california desert before being transferred to a "halfway house" in long beach. there he will be able to have supervised outings and even go to the movies, according to a prison official.

previously, changpeng zhao and binance reached an agreement with the u.s. department of justice in november 2023 to allow binance to continue operating. binance pleaded guilty to charges of money laundering, unlicensed remittances, and sanctions violations, and will pay a fine of us$4.3 billion; changpeng zhao admitted to violating u.s. anti-money laundering laws, agreed to pay a fine of us$50 million, and resigned as ceo.

it is understood that in order to be consistent with regulatory requirements, binance, after receiving a huge fine, decided to increase its compliance investment. as of january 2024, binance has helped authorities freeze and confiscate more than $1 billion worth of crypto assets in public and private collaborations to prevent malicious behavior; by july 2024, binance has processed a total of nearly 174,000 collaborations requests, responding to more than 63,000 law enforcement requests this year alone, up from 58,000 in 2023.

cryptocurrency prices have been volatile in recent months. in april this year, bitcoin once stood at us$70,000, but then fluctuated and fell, and once fell to us$49,000. currently, bitcoin price exceeds $64,900. bnb, the platform token issued by binance exchange, briefly fell after changpeng zhao was imprisoned, and then rose to more than 720 us dollars. then it also began to fluctuate and fell, once falling to around 400 us dollars. currently, the price of bnb has risen to more than 600 us dollars.

after changpeng zhao is released from prison, under the terms of his criminal settlement, he must step down as ceo of binance and stay away from the company's "day-to-day" activities. however, there is no denying that he is still the company's largest shareholder.