Changpeng Zhao, the founder and former CEO of Binance, was released on a $175 million personal recognizance bond. Earlier on Tuesday, Zhao admitted in court to breaching the Bank Secrecy Act. U.S. authorities accused him of instructing Binance to permit American customers to access the platform without adequate know-your-customer or anti-money laundering protocols. A recent court document revealed Zhao was securing his release by depositing $15 million in a trust account managed by Davis Wright Tremaine, separate from the bond, Coindesk reported. Additionally, he agreed to forfeit these funds if he failed to comply with the release conditions. He was also securing two guarantors who pledged $250,000 and $100,000, respectively. His sentencing is scheduled for Feb. 23, 2024, at 9 a.m. Pacific Time. . . #binance #changpengzhao