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Binance founder Changpeng Zhao sentenced to 4 months in prison

Julie Hyman and Josh Lipton

Binance (BNB-USD) Founder and former CEO Changpeng "CZ" Zhao has been sentenced to four months in prison on Tuesday after pleading guilty to money laundering charges. The crypto exchange has paid $4.3 billion in fines as part of Zhao's plea deal with authorities.

Zhao's sentencing comes over a month since FTX's own Sam Bankman-Fried was sentenced to 25 years after defrauding his platform's investors and customers.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Luke Carberry Mogan.