Binance Founder CZ Faces Legal Battle Over Ignorance Claims

• Lack of legal expertise and compliance issues at Binance highlighted serious concerns by co-founder He Yi.
• CZ expresses remorse and accepts responsibility, appealing for a second chance and emphasizing compliance changes at Binance.
• Prosecutors push for harsher penalties, while CZ’s family highlights his role as a caring parent and generous philanthropist.

He Yi, the co-founder of Binance, recently emphasized that Changpeng Zhao (CZ), Binance founder, apparent lack of awareness has had serious consequences for him and the company. Yi pointed out that despite Zhao being the only English-speaking member in the early management team, the absence of legal expertise within the startup has been a notable issue.

Binance co-founder He Yi said that CZ’s biggest mistake was ignorance. As a startup with no fancy background, the founding team members had no legal background, and even most of the early management team members, except CZ, could not even read English. Both Binance and CZ have…

— Wu Blockchain (@WuBlockchain) April 25, 2024

Addressing these concerns, CZ penned a letter to Judge Richard A Jones of the US District Court for the Western District of Wash…

The post Binance Founder CZ Faces Legal Battle Over Ignorance Claims appeared first on Coin Edition.