Binance Founder Changpeng ‘CZ’ Zhao Could Be Released on Friday

As a researcher with a keen interest in blockchain and cryptocurrency, I find myself intrigued by the latest developments surrounding Changpeng “CZ” Zhao, the founder of Binance. While it’s always disheartening to see a pioneer in the industry facing legal consequences, it’s encouraging to see the resilience and adaptability that the cryptocurrency world exhibits even in the face of adversity.

According to legal interpretations, it’s possible that Binance founder Changpeng “CZ” Zhao might be discharged from detention as early as this coming Friday, which is two days prior to his originally scheduled release date of September 29th (Sunday).

According to the rule set by the U.S. Department of Justice’s Federal Bureau of Prisons, an inmate whose release date falls on a weekend or holiday may be freed one day early, on the last working day prior to their scheduled release date, unless there is a need to keep them in custody for another jurisdiction seeking custody or if there are other reasons suggesting that the inmate should not be released before their set release date.

Whether a decision is made could hinge on the power delegated to Wardens, as the Bureau of Prisons has yet to provide a response or clarification regarding our inquiry sent during non-office hours by CoinDesk.

In April, CZ admitted guilt for breaking the Bank Secrecy Act by not establishing a proper Know-Your-Customer (KYC) system at Binance, which resulted in a four-month prison sentence.

If CZ was put in prison on a Friday, he would’ve served a total of 116 days behind bars by now. He initially stayed for three months at the low-security facility Lompoc II, located along California’s central coast. In late August, he was transferred to a halfway house in San Pedro, California.

A representative from Binance expressed their joy as CZ will reunite with his family. Although CZ won’t be overseeing or running Binance anymore, we eagerly anticipate what he’ll do next, they said. Since last year, the platform has prospered under our current team, expanding to more than 230 million users worldwide.