Justin Sun, the founder of Tron blockchain, has recently supported Changpeng Zhao, the founder of the well-known blockchain Binance. In his recent post on the social media forum X, Sun noted that Zhao had a comprehensive impact on the entire blockchain industry. As per him, Zhao made significant contributions to this sector.
Changpeng Zhao of Binance Pleads Guilty to the Allegations
The Binance founder has been facing some criminal charges in recent months. The reports point out that the allegations took into account the infringement of the requirements concerning money laundering. He also had to quit his position as the chief executive officer of the Binance, back in November last year. In addition to this, the respective circumstances also made him pay up to $50M in fines.
Some reports are claiming that the federal guidelines declare a maximum 18-month imprisonment sentence for Zhao. The Binance CEO has been free within the US jurisdiction on a bond of nearly $175M. Along with these things, CZ filed a guilty plea to admit the criminal charges against him. Additionally, he voiced regret before the impending sentencing date. As per him, he apologizes for his poor decisions while accepting complete responsibility.
With this act of taking complete responsibility and surrendering himself, Zhao hopes to resolve the issue before the court. He also assured the court that he would not do that again and demanded a second chance. In this respect, he pointed toward his unconventional career with a simple life while returning investor funds following failed startups.
Justin Sun Supports Zhao for His Contribution to the Industry and Hopes for His Safe Return
Several people wrote letters of support for Zhao, including Yi He (Binance co-founder) and Justin Sun. Yi He (the wife of CZ) acknowledged the mistakes that Zhao made but also admired his sense of responsibility, integrity, and fairness. She discussed the company’s failed endeavor for FTX rescue in 2022.
Following that event, Zhao reportedly started focusing more on privacy and transparency. Justin Sun asserted that he felt an unprecedented unity with Zhao in the market. He labeled Zhao as the industry’s guardian. He also expressed hope for CZ’s safe return to continue leading the market with new possibilities.
