On April 30, Judge Richard Jones sentenced Zhao to four months in prison, going against the U.S. Department of Justice (DOJ)’s recommendation for a three-year jail sentence.
London-based financial services lawyer Rabya Anwar told crypto.news that the stories of Zhao and FTX founder Sam Bankman-Fried “have become interlinked” since the U.S. government took action against both in a short span of time. She explained that:
“Zhao may have mentored Bankman-Fried in the past before their relationship ruptured but the way in which these two industry leaders have conducted their respective businesses has been worlds apart. Bankman-Fried was charged with fraud, including the misappropriation of customers’ funds, which some would describe as theft. Whereas, Zhao’s case centers more around the effectiveness of anti-money laundering controls.”
Award-winning financial services lawyer, Rabya Anwar, Esq., told crypto.news.
A number of factors have influenced the difference in the sentencing of these two men. Anwar points to the “difference in the nature of their conduct and, furthermore, the damaging and lasting impact of the FTX scandal on innocent members of the public.”
In addition, many the crypto community on X have sharing the number “4” since Zhao’s sentencing was announced, a signal and viral meme Zhao developed to raise awareness of four core principals behind Binance back in 2023.
Autism Capital says that Zhao “literally memed his prison sentence into existence.”
Soon after the sentencing, Zhao posted that he would complete the prison time and “focus on the next chapter” of his life, pointing at “education.”
Cryptocurrency influencer Crypto Patel also showed support for Zhao, saying “he’s not a criminal.” He added that Zhao is “an innovator” and “believes in a future empowered by crypto.”
Another X user called RobinTheFarmer pointed out Zhao’s support for Terra (LUNA) and Luna Classic (LUNC) and its community.
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