Binance founder's sentencing in US postponed to end of April

By Ovunc Kutlu

ISTANBUL (AA) - Sentencing for Binance’s founder and former CEO Changpeng Zhao's in the US was postponed until the end of April, according to court documents.

Zhao's sentencing was originally scheduled for Feb. 23 but was rescheduled for April 30, a federal court in Seattle, Washington said Monday.

He faces a sentence of up to 18 months, but US prosecutors may seek a longer term, while he is on a $175 million release bond.

A federal judge in December refused Zhao's request to travel abroad for a scheduled medical procedure.

Zhao agreed in November to pay a $50 million fine and step down from his role as part of a $4.3 billion settlement, amid a lawsuit by the US Securities and Exchange Commission (SEC).

The SEC in June filed 13 charges against the world's biggest cryptocurrency platform Binance's entities and then-CEO Zhao.