Changpeng Zhao, co-founder of the crypto exchange Binance, universally known as CZ, has been released from federal custody in California. On Friday, Zhao completed a four-month sentence he served for failing to implement anti-money laundering policies at Binance.
During his incarceration, Zhao spent two months in a minimum-security prison. Meanwhile, Binance continued to thrive financially, and the value of Bitcoin surged, signaling a positive sentiment in the crypto market.
The news of Zhao's release and Binance's financial success highlights the ongoing influence of Binance in the crypto world. The events underline the resilience of the cryptocurrency market, even amidst regulatory challenges.
