Underlining the risks and rewards of rapid crypto growth, former Binance CEO CZ shared new details about his company’s financial success and legal challenges:
🟠Binance earned between $500m and $1bn in net profit in 2018, its first full year of operation
🟠In 2024, CZ was sentenced to four months in prison and paid a $50m personal fine; Binance paid $4.3bn—the largest criminal settlement in crypto history
🟠СZ’s background includes working in McDonald’s, studying at McGill University, and developing HFT systems prior to launching Binance in 2017
🟠The judge cited his cooperation and lack of prior offenses in reducing the sentence from a proposed three years
🟠As of 2025, СZ remains one of the wealthiest figures in the industry (≈ $65bn) and advises several national governments
🟠The case underscores the importance of compliance and long-term strategy in high-growth crypto ventures