Changpeng “CZ” Zhao, the face of Binance, has penned a heartfelt apology to the judge overseeing his case, marking a pivotal moment in his legal journey. Admitting his mistakes, CZ accepts full responsibility for the regulatory scrutiny surrounding Binance, expressing genuine remorse ahead of his impending sentencing on April 30.
A Plea for Understanding: Will it Work?
CZ’s candid letter doesn’t mince words. He openly acknowledges his lapses in judgment and takes ownership of the lack of robust compliance measures within Binance, the platform he leads. This admission reflects the gravity of the situation, showing CZ’s willingness to face the consequences of his actions.
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Personal Testimonies
Joined by 161 voices of family, friends, and respected colleagues, CZ’s plea for leniency gains resonance. Jessica Zhao, his sister, praises his integrity, highlighting his actions during the FTX crisis. He Yi, CZ’s co-founder and mother of his children, portrays him as a stalwart defender of cryptocurrency integrity, urging understanding for his managerial learning curve.
From heartfelt accounts by CZ’s wife, Yang Weiqing, to touching anecdotes from their children, Rachel and Ryan, each narrative adds depth to CZ’s character. Their stories paint a picture of a compassionate individual beyond his professional persona.
Industry Recognition – Professional Testimonies
Tigran Gambaryan, Binance’s Head of Financial Crime Compliance, currently detained in Nigeria, also vouched for CZ’s integrity and positive impact on the global community in his letter.
Further backing came from influential figures such as Max S. Baucus, former U.S. Ambassador to China, and academics like Jeremy R. Cooperstock from McGill University and Ronghui Gu from Columbia University.
Contributions were also made by Sean Yang, a Morgan Stanley Managing Director, and members of the ruling family in the United Arab Emirates, all attesting to CZ’s character and contributions to the industry.
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CZ’s legal team staunchly defends his innocence regarding any intentional involvement in illicit activities on Binance. They highlight the unprecedented legal challenges faced by the exchange, advocating for probation given CZ’s clean record.
