In a recent court filing, the Department of Justice described Zhao’s actions as deliberate decisions to violate U.S. law to benefit his company and personal finances.

In defense, Zhao’s attorneys have requested probation, pointing to his cooperation with authorities and significant financial penalties already paid, including a personal $50 million fine and Binance’s $4.3 billion settlement. Zhao’s sentencing is set for April 30, and he remains free on a $175 million bond. More details will follow as the case progresses.