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COINTURK NEWS > Binance > Binance CEO Faces Legal Issues and Imprisonment
Binance

Binance CEO Faces Legal Issues and Imprisonment

In Brief

  • Former Binance CEO CZ was involved in a legal process and arrested last year.

  • CZ's release date from prison is set for September 29.

  • BNB's price reached $575.5, benefiting from Bitcoin's rise.

COINTURK NEWS
COINTURK NEWS 11 months ago
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One of the most prominent figures in the cryptocurrency world, and perhaps the foremost among them, former Binance CEO Changpeng “CZ” Zhao was involved in a significant legal process last year, which resulted in his arrest. Throughout the process, Zhao repeatedly requested the lifting of his travel ban, but the court denied his request. Additionally, while Zhao was arrested, Binance exchange was also fined. However, the dark clouds over Binance quickly dissipated after the new CEO embraced a collaborative working approach.

Contents
CZ’s Release Date from Prison AnnouncedWhat is BNB’s Current Price?

CZ’s Release Date from Prison Announced

CZ, one of the most recognized faces in the cryptocurrency world, faced charges last year and was found guilty, receiving a sentence of less than a year in prison. According to a recently released image, CZ’s release date from prison has been determined. The decision indicates that CZ will complete his sentence and be released on September 29.

Binance‘s former CEO’s situation was thought to potentially affect the exchange and BNB, but that was not the case. The new CEO, Richard Tang, who took over from CZ, stated that they would work harmoniously with institutions.

Following this, the exchange and BNB performed better than expected, with BNB even reaching its all-time high of $720.

What is BNB’s Current Price?

While Binance continues to be the world’s largest exchange by volume, attention remains on BNB. BNB’s price appears to have benefited from the recent rise in Bitcoin. As of the time of writing, BNB is trading at $575.5, following a 2.52% increase in the last 24 hours.

Additionally, BNB’s market cap has exceeded $84 billion, while its trading volume, despite the news, fell by 1.56% to $1.8 billion.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 26 July, 2024 - 2:00 pm 26 July, 2024 - 2:00 pm
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