Categories: MarketsMenafn

Polymarket: CZ Will Spend Under 12 Months in Jail

Former Binance CEO Changpeng Zhao (CZ) is set to be sentenced on April 30 after pleading guilty in November 2023.

The Department of Justice (DOJ) has recommended a three-year prison sentence due to the alleged scale of his misconduct. However, bettors on Polymarket, a prediction market, believe he will be out much sooner.

Trading on Polymarket indicates a 69% chance CZ will be out in less than six months, with similar probabilities for shorter sentences up to 17 months. There’s a 96% chance he’ll be out in less than two years and a less than 2% chance of the DOJ’s recommended 30-35-month sentence.

Traders speculate that letters of support, including those from notable figures like former U.S. Ambassador to China Max S. Baucus and professors from Columbia and McGill Universities, could influence the judge to give a significantly reduced sentence.

Similarly, CZ has expressed regret for his previous business decisions, acknowledging the lack of KYC and AML checks on his platform. The former Binance founder sent a letter to Judge Richard A. Jones of the Western District of Washington.

Despite CZ being out of the picture, Binance is still under scrutiny by global lawmakers. As CryptoMode reported, the leading crypto exchange faces a lawsuit in Canada, with plaintiffs alleging that it violated the Ontario Securities Act after selling unregistered securities.

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Recent Posts

Bolivia President-Elect Adopts Blockchain Plan To Curb Corruption

Bolivia’s president-elect, Rodrigo Paz, has a bold plan to use blockchain technology in government buying…

9 hours ago

ANOME Unveils AnoMEME: A Meme Token Card LaunchPad Built on ERC-404 — Where Meme Tokens Become Meme Cards

Singapore, 20th October 2025, ZEX PR WIRE, ANOME, the Web3 ecosystem uniting NFTs, GameFi, and…

1 day ago

Crescent Petroleum and Dana Gas boost Khor Mor gas capacity by 50% with early completion of KM250 Project

Drilling, construction and commissioning completed eight months ahead of schedule Project adds 250 MMscf/d of…

5 days ago

IONIX Chain Leads Best Crypto Presale in 2025 as ETH and BTC Slip

Dubai, UAE, 16th October 2025, ZEX PR WIRE, As traditional cryptocurrency giants face market headwinds…

5 days ago

Your Ride to the City’s Most Stylish Bars-Global Airport Taxi Joins the Spirit of London Cocktail Week 2025

London, UK, 16th October 2025, ZEX PR WIRE, As London gets ready to shake, stir,…

6 days ago

Best Crypto Presale 2025 – IONIX CHAIN Launches Revolutionary AI Layer 1 Blockchain Presale to 1000x Investment

Dubai, UAE, 16th October 2025, ZEX PR WIRE, The cryptocurrency world is buzzing once again…

6 days ago