Is Binance founder CZ really getting out of prison today?
Disgraced Binance billionaire Changpeng Zhao (CZ) could be leaving prison two days earlier than expected due to a federal rule that allows for an early exit if a prisoner’s release date falls on the weekend.
CZ is scheduled to be released from the RRM Long Beach halfway house in California on September 29 according to his inmate tracker.
However, a release rule under the US Code Title 18, Crimes and Criminal Procedure § 3624, states, “If the date for a prisoner’s release falls on a Saturday, a Sunday, or a legal holiday at the place of confinement, the prisoner may be released by the Bureau on the last preceding weekday.”
Because it states he “may” be released early, the widely reported Friday release date is not set in stone. Users online also thought he was free when he was moved last month.
Read more: The rise and fall of Binance’s CZ
Zhao pleaded guilty last year for failing to “maintain an effective anti-money laundering program” and paid a $4 billion resolution. He was sentenced to four months. If he is freed today he will have served 116 days in prison.
However, this may not spell the end of CZ’s legal troubles altogether. When he is released, he will have to face another lawsuit from three crypto traders who are accusing him and Binance of losing their funds through lax money laundering regulations.
Protos has reached out to RRM Long Beach for clarification and will update if we hear back.
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