Features Crypto News by Thebittimes.Com

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. New CZ lawsuit will ‘put blockchain analytics on trial,’ says lawyer Read more: The rise and fall of Binance’s CZ Zhao pleaded guilty last year for failing to “maintain an effective...

Turkish crypto exchange Thodex’s found er and his two siblings face over 11,000 years in jail each after being convicted of fraud, money laundering, and running a criminal organization. A Turkish court sentenced Faruk Fatih Ozer — the man behind Thodex, a crypto exchange that went bankrupt in 2021 — to 11,196 years and 10 months in prison for crimes including fraud alongside his two siblings. According to a Sept. 7 report by state-run Turkish news agency Anadolu, the Istanbul court delivered its verdict to Ozer and his two siblings — who received similar sentences — on Sept. 7. The men in question were found guilty of aggravated fraud, leading a criminal organization, and money laundering. Bloomberg describes Ozer as a “high-school dropout” who founded the exchange in 2017, at the height of the crypto craze. Later, he fled to Albania when the platform collapsed. He also reportedly appeared unrepentant during his final hearing. “I am smart enough to manag...