Yi He Shares Positive Outlook on Legal Situation of Binance’s Former CEO, Changpeng Zhao
The legal saga surrounding Binance’s former CEO, Changpeng Zhao, continues to unfold as the cryptocurrency giant’s co-founder, Yi He, shares a positive outlook on his situation. Despite facing the possibility of prison time and hefty fines, He remains optimistic about the outcome of Zhao’s upcoming sentencing hearing on April 30 in the United States.
Speaking at a Binance Chinese community meetup in Dubai, He described Zhao’s current status as “largely peaceful” and expressed confidence in the company’s ability to navigate past regulatory pressures. She believes that the existing situation is the most optimal outcome given the circumstances.
Last year was a turbulent one for Binance, with Zhao resigning from his CEO position following a federal investigation that resulted in significant fines and charges related to anti-money laundering violations. Despite these challenges, He continues to play a key role within the company as one of the largest shareholders and Zhao’s romantic partner.
Currently, Zhao is on bail in the United States after posting a $175 million bond. However, his request to travel to Dubai was recently denied by a federal judge due to concerns over potential flight risk. Prosecutors have suggested a maximum sentence of 10 years for Zhao, who could face up to 18 months in prison under federal sentencing guidelines.
In the wake of Zhao’s departure, Binance appointed Richard Teng as its new CEO, signaling a new chapter for the exchange amid ongoing regulatory scrutiny. Despite the challenges ahead, He remains hopeful for the future of Binance and Zhao’s legal situation.
