CZ Transferred to Field Office Custody Ahead of September Release

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Key takeaways:

CZ is still due to be released from detention in 38 days, but according to records, CZ has been moved by authorities to an administrative facility in the Greater Los Angeles area.
The former CEO of Binance was housed at the Federal Correctional Institution Lompoc in central California until recently.

Changpeng Zhao (CZ) is still due to be released from detention in 38 days, but according to records, the former CEO of Binance has been moved by authorities to an administrative facility in the Greater Los Angeles area.

As of August 22, CZ was identified in the files of the US Federal Bureau of Prisons (BOP) as a prisoner in the Residential Reentry Management (RRM) Long Beach field office, which assists in the placement of federal offenders. The former CEO of Binance was housed at the Federal Correctional Institution Lompoc in central California until recently.

CZ was moved before his scheduled release date of September 29, but the reason is unknown. In April, a federal judge sentenced the former CEO of Binance to four months in prison after he entered a guilty plea for neglecting to maintain an efficient anti-money laundering program while in charge of the cryptocurrency exchange. On May 31, he reported to prison.

The BOP website described RRM Long Beach as an administrative office that oversaw halfway houses in southern and central California. This action might indicate that authorities were getting ready to transport CZ from Lompoc or another prison to a residential institution.

CZ left his position as CEO of Binance in November 2023 and entered a guilty plea to a single felony charge as part of an agreement with US authorities. In exchange for CZ being prohibited from holding an executive position at any cryptocurrency company going forward, the exchange agreed to pay $4.3 billion for “civil regulatory enforcement actions.”

Before turning himself into the prison authorities, CZ was active on social media. She hasn’t tweeted since May. He mentioned that he would finish a writing project while incarcerated before reporting to Lompoc. The former CEO was among the wealthiest people imprisoned, with an estimated net worth in the billions.

Despite internet rumors, there was no proof that CZ was “free” after the transfer. His release date was set for September 29 on the BOP website.