| A federal judge on Tuesday sentenced former Binance CEO Changpeng Zhao to four months in prison for failing to wall off the world's largest digital asset exchange from money laundering activity, allowing the trading platform to become a hub for illicit finance. Judge Richard Jones of the Western District of Washington delivered the ruling after Zhao and Binance pleaded guilty last year to a sweeping slate of charges levied by the U.S. government alleging that the company long prioritized its growth over compliance with the law. Binance, in turn, became a central node for terrorist organizations, hackers and human traffickers looking to move money, prosecutors said. Read the latest
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