Binance Co-Founder He Yi Hails CZ’s Success As “Most Optimal Outcome”

The partner of CZ, former CEO of Binance, reassured the public about his well-being amid awaiting sentencing in the US.

Binance’s co-founder, He Yi, offered a positive update on ex-CEO Changpeng Zhao’s situation as he faces sentencing in the US on April 30.

At a Binance Chinese Meetup during the Token2049 conference in Dubai, He Yi reportedly addressed regulatory concerns without directly quoting her remarks.

Upon sentencing in the District Court of Western Washington, CZ faces a potential 10-year prison term, though guidelines recommend 12 to 18 months. This stems from a November settlement mandating Binance forfeit $4.3 billion, prompting CZ’s resignation as CEO.

CZ, on a $175-million bond with travel restrictions in the US, sought permission to travel to Dubai twice due to a child’s medical issue. In response, the US Attorney’s Office moved to seize his passports, as CZ holds Canadian and United Arab Emirates citizenship.

Yi, who is the mother of at least two out of CZ’s three children, denies being romantically involved with him presently. She holds an undisclosed stake in the exchange.

Following CZ’s departure as CEO, Binance has been establishing distance. Richard Teng, former head of Binance’s international regional markets, assumed the role of CEO, stressing a new direction for the exchange. Binance recently formed a board of directors.

Reports on April 18 revealed Binance’s acquisition of a Virtual Asset Service Provider (VASP) license in Dubai. As per the licensing terms, CZ purportedly had to relinquish voting rights in the local entity, Binance FZE. However, Binance refrained from confirming this detail.

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