CZ New Book: The fine amount proposed by the U.S. Department of Justice was initially 6.8 billion dollars

2026-04-08 18:41:46

Binance founder Zhao Changpeng (CZ) recalled in his new book that during negotiations with the U.S. Department of Justice, the other party initially proposed a fine of up to $6.8 billion, far exceeding the final settlement amount.

He stated that the two sides started with about $500 million and went through multiple rounds of negotiations, during which the prosecution repeatedly pressured and issued "ultimatums," ultimately reaching a settlement of $4.3 billion.

CZ also mentioned that some lawyers suggested "paying a higher fine might help reduce the sentence," but the Department of Justice later used the high fine as one of the bases for "seriousness of the issue" in court.

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