Court documents from the Western District of Washington federal court in the United States show that Changpeng Zhao may face a sentence of up to 18 months to ten years for his involvement in criminal activities. Despite being a billionaire and living in the United Arab Emirates, which does not extradite its citizens, he voluntarily went to the United States to stand trial. The government recommended bail before sentencing, but believed he still posed a flight risk and needed to be restricted during his stay in the United States to prevent him from returning to the United Arab Emirates. The government pointed out that Changpeng Zhao had no connection to the United States, and that his family and wealth were in the United Arab Emirates, so he had a motive to evade US law. The government requested that the court require Changpeng Zhao to stay in the United States during the period between his guilty plea and sentencing.

In documents submitted on November 24th, US prosecutors indicated that they may seek a statutory maximum sentence of 10 years in prison for former Binance CEO Zhao Changpeng (CZ), which could exceed the sentencing guidelines. The documents were submitted in response to CZ's motion to oppose the US government's detention of him. The prosecutors stated that the upper limit of the sentencing guidelines could be as high as 18 months, and the US could freely assert any statutory maximum sentence of up to 10 years. Former head of the SEC Enforcement Division, John Reed Stark, stated that this is the first time that prosecutors have explicitly and clearly stated that they may seek a maximum sentence of 10 years. A DOJ lawyer supporting the detention of CZ stated that the punishment he faces in sentencing is undoubtedly significant to him, which "helps to reasonably restrict" him.

Binance settlement highlights banks’ and crypto firms’ ambiguous treatment, says Columbia Business School adjunct professor Omid Malekan.

On November 26th, Lookonchain monitoring shows that in the past three days, two wallets labeled as Spark Digital Capital have deposited a total of 1.93 million SUPER tokens (worth $784,000) into Binance.<br>It is reported that Spark Digital Capital had previously withdrawn 999,874 SUPER tokens (worth $181,000) from Binance on August 13, 2022, at an average price of $0.18 per token.

Omid Malekan, a part-time professor at Columbia Business School, said that the settlement of Binance highlights the ambiguous treatment of banks and cryptocurrency companies, and the Department of Justice's approach in this case is completely different from that in the traditional financial sector. Some people do not understand how other parts of the financial system work, and companies that follow best practices for anti-money laundering are still dealing with a large amount of illegal funds. But this is considered acceptable because someone did the paperwork. If traditional companies were treated the same way as Binance in similar cases, many people on Wall Street would be sent to jail. If they were required to meet the standards of Binance, hundreds of CEOs would be imprisoned, and funds used for share buybacks (or lobbying) would be reduced. But bankers are smart enough never to question this game. Binance has done a pretty good job in helping tens of millions of poor people, people of color, and other vulnerable groups enter the financial system, something compliant financial companies have failed to do for a long time.

The lawyer of former CEO of Binance, Zhao Changpeng (CZ), has filed a motion to allow Zhao to return to the United Arab Emirates to counter the motion by the US Department of Justice to review his current bail conditions.

Scopescan monitoring shows that Justin Sun has removed the liquidity of multiple trading pairs on the Tron ecosystem stablecoin trading platform SUN.IO in the past 30 minutes, and deposited stablecoins (22.32 million USDT, 3.03 million USDC, and 3.16 million TUSD) into Binance.

According to The Data Nerd's monitoring, whale 0xfc4 withdrew 1498 ETH (approximately $3.13 million) from Binance at a price of $2089.In the past two days, this whale has accumulated a total of 4770 ETH (approximately $9.92 million) at an average price of $2079.

According to an official announcement, Binance will list Blur (BLUR) on November 24, 2023 at 17:00 (GMT+8) and open the following spot trading pairs:

According to data released by the Russian cryptocurrency exchange CommEX, its P2P daily trading volume has reached 90 million rubles since its launch, with over 200,000 users, and P2P trading volume has increased by 460% in the past month. (Forklog)