With ETF demand cooling, Bitcoin faces worst month since FTX crash

Binance founder Changpeng Zhao was ordered to spend four months in prison for failures that allowed cybercriminals and terrorist groups to freely trade on the world’s largest cryptocurrency exchange.

Zhao, 47, was sentenced Tuesday by US District Judge Richard Jones in Seattle. Dressed in a dark suit with a light blue tie, the billionaire arrived in court flanked by half a dozen lawyers. His mother and sister watched his sentencing from the front row of the courtroom.

The sentence was far below the three years requested by prosecutors, who had sought to make an example out of Zhao to a heavily-scrutinized industry rebounding from a slew of high-profile scandals.