US prosecutors ask judge to approve Binance plea deal
Summary
US prosecutors filed a sentencing memo for Binance's plea deal, seeking approval from a federal judge. Binance and its former CEO, Changpeng Zhao, pleaded guilty to money laundering and sanctions violations. The deal involves Binance paying a $4.3 billion penalty and being monitored for five years. Prosecutors justified the penalty, citing intentional violations and vulnerability of the financial system. Binance's lapses allowed illicit financial flows, including transactions by terrorist groups and child exploitation websites. Zhao faces up to 10 years in prison but may receive a maximum of 18 months and pay a $50 million fine.
