Changpeng Zhao, the Binance founder known as CZ, was released from U.S. custody on September 27, 2024, after serving a four-month prison sentence. TechCrunch reported the release date, attributing confirmation to a federal custody source. His release followed a guilty plea tied to Binance’s failure to implement an effective anti-money-laundering program. It was separate from President Donald Trump’s 2025 pardon, which the Associated Press reported later.
When was CZ released from prison?
Zhao was released from U.S. custody on September 27, 2024, according to TechCrunch’s contemporary report. That report attributed confirmation to a federal custody source; the Justice Department’s case materials establish the plea and corporate resolution, not the release date.
Why did Binance founder CZ go to prison?
On November 21, 2023, Zhao pleaded guilty to violating the Bank Secrecy Act by causing Binance to fail to implement an effective anti-money-laundering program, according to the U.S. Department of Justice. The DOJ said Binance separately pleaded guilty to offenses involving the Bank Secrecy Act, operating as an unregistered money-transmitting business, and the International Emergency Economic Powers Act.
Binance agreed to $4.3 billion in penalties, compliance enhancements and remediation, and an independent monitor, the DOJ said. Its case page described the resolution as the department’s largest corporate guilty plea involving a CEO’s guilty plea as well. These corporate obligations were distinct from Zhao’s individual criminal sentence.
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How long was CZ’s sentence?
U.S. District Judge Richard A. Jones sentenced Zhao to four months in prison on April 30, 2024. The Associated Press reported that prosecutors had sought three years and defense lawyers had sought no prison term. The court also imposed a previously agreed $50 million fine, according to the AP’s sentencing report.
Was CZ still Binance CEO when he was released?
No. Zhao resigned as Binance CEO after pleading guilty in November 2023, according to the U.S. Attorney’s Office for the Western District of Washington. He remained Binance’s founder, but describing him as the exchange’s sitting CEO at the time of his September 2024 release would be inaccurate.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What happened after Zhao’s release?
In a later development, the Associated Press reported on October 23, 2025, that President Donald Trump pardoned Zhao. The pardon came after the September 2024 custody release; it did not change the date he was released. The AP’s report is the source for the pardon in this timeline.
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