Amitoj Singh is a CoinDesk reporter.
Binance founder and former chief executive Changpeng"CZ” Zhao has apologized for his “poor decisions” and accepted “full responsibility” for his actions in a letter to the judge overseeing his case filed on Tuesday.with the U.S. Department of Justice in November 2023. Despite Zhao waiving the right to appeal any sentence up to 18 months back then, the DOJ has now sought aIn the letter addressed to the U.S. Judge from the Western District of Washington, Richard A.
Zhao’s sister, Jessica Zhao, who was a former Managing Director at Morgan Stanley, said that although her brother has made mistakes, he lives to do well for others. She cited the example of the FTX fallout and said Zhao ensured Binance never misused any customer funds. “Even the U.S. has not decided how to regulate and define this industry,” Yi wrote. As a founder who has never managed a company of this size, he was sure to encounter blind spots.”
Zhao’s children, Rachel and Ryan, both students in U.S. universities, provided anecdotes of a supportive father and asked the Judge not to define Zhao's character solely through this one incident.
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