On: Binance founder Changpeng Zhao sentenced to four m...

[mlyle]

For clarity, he's paying a $50M fine; Binance is paying a multi-billion dollar fine. The latter is not measured against the "money he made", but instead the value of Binance.

[matthewdgreen → mlyle]

And Binance will come out of this a relatively "legitimate" major player, which makes it worth the costs.

[rchaud → mlyle]

Binance money is effectively CZ's money, he's likely the majority owner.

[erikig → rchaud]

...Zhao is widely reported to have an estimated 90% stake in Binance.[1]

[1] https://www.cnbc.com/2024/04/30/binance-founder-changpeng-zh...