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

Japan Launches Yen-Pegged Stablecoin Under New Regulations

Japan introduced its first yen-pegged stablecoin under domestic regulations on October 27, 2025, as startup…

45 minutes ago

Payments MCP: Coinbase links AI agents to crypto via x402

Coinbase has launched Payments MCP, a Model Context Protocol implementation that gives AI agents access…

4 days ago

Agrifi AGF Token Transforms DeFi with Real Farmland Utility and On-Chain Yields

Estonia, 22nd October 2025, ZEX PR WIRE, AgriFi, a blockchain-powered agricultural finance protocol, is redefining…

5 days ago

Ride the Festive Wave: From London to Manchester’s Christmas Markets with Global Airport Taxi

Manchester Christmas Markets — The Beating Heart of Britain’s Festive Season London, UK, 21st October…

5 days ago

Travel Smarter: Sky Bridge Cars Sets a New Benchmark for Heathrow Taxi Excellence

London, UK, 21st October 2025, ZEX PR WIRE, For millions of passengers travelling through Heathrow…

5 days ago

Top ICO 2025: IONIX Chain is the Best Crypto Presale for the Next 1000x Gains

Dubai, UAE, 21st October 2025, ZEX PR WIRE, In a year that’s already shaping up…

5 days ago