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Binance crypto founder Zhao sentenced to four months in prison

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Changpeng Zhao, Binance founder
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Changpeng Zhao, the former chief executive of Binance, was sentenced on Tuesday to four months in prison after pleading guilty  to violating U.S. laws against money laundering at the world’s largest cryptocurrency exchange.

Once considered the most powerful crypto industry figure, Zhao, known as “CZ,” is the second major crypto boss to be sentenced to prison.
The sentence imposed by U.S. District Judge Richard Jones in Seattle was significantly shorter than the three years sought by prosecutors, and below the maximum 1-1/2 years recommended under federal guidelines.
It was also much lighter than the 25 years behind bars that Sam Bankman-Fried received in March for stealing $8 billion from customers of his now-bankrupt FTX exchange. Bankman-Fried is appealing his conviction and sentence.
Still, prosecutors cheered the outcome of what had been a years-long investigation into Binance and Zhao, a billionaire  who had been living beyond U.S. reach in the United Arab Emirates.

Zhao, who went by the nickname CZ, has also satisfied the requirement of him to pay $50 million in fines, U.S. District Judge Richard Jones said in court Tuesday.

The judge also won’t impose five months of probation as was recommended by the probation officer, Mail Online reports.

The 47-year-old admitted to violating the Bank Secrecy Act by willfully failing to set up an effective anti-money laundering system at Binance, the cryptocurrency exchange he founded and ran as CEO from July 2017 to November 2023.

Binance also pleaded guilty to similar charges from the US Department of Justice in November 2023 and was forced to pay $4.3 billion in fines and restitution for failing to register as a money transmitting business, Forbes reported.

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U.S. prosecutors had urged the court to sentence Zhao to three years in prison after he pleaded guilty to violating laws against money laundering.

They argued that sentencing Zhao to twice the maximum 18 months recommended under federal guidelines would reflect the magnitude of his willful violations, and send a message that would deter others.

A U.S. district court had in March ordered that Zhao must surrender his Canadian passport and notify the court before travelling within the country.

This came after U.S. District Judge, Honorable Richard A. Jones restricted his bond conditions.

The court ordered the businessman to surrender all valid and expired passports, and the documents were to be transferred to someone to be hired by his lawyers who would accompany the Binance founder on all trips where a passport might be needed.

He must also notify the relevant authorities of his movements.

In the case between the U.S. and Zhao as the defendant, the court ruling of March 11, 2024, obtained by SaharaReporters, is as follows: “Defendant must remain in the continental United States through the imposition of sentence.

“Defendant must notify Pretrial Services before any travel within the continental United States.

“Defendant must surrender his current Canadian passport to a third-party custodian employed and supervised by his counsel of record.

“The third-party custodian must retain control over that Canadian passport and must accompany Defendant on any travel that requires identification documents.

“Defendant must surrender all other current and expired passports and travel documents to his counsel of record, who may return those documents to defendant only with authorization from Pretrial Services or the Court.

“Defendant may not apply for or obtain a new passport or travel document from any country without the Court’s permission.”

In November 2023, Zhao pleaded guilty to criminal charges and violating the Bank Secrecy Act. He subsequently agreed to pay a fine and stepped down as the company’s CEO.

Zhao was released on bail of $175 million.

This was part of a $4.3 billion settlement with the Department of Justice, according to court documents.

The plea arrangement with the government followed years of investigation into the dealings of the world’s largest cryptocurrency exchange.

In December, Judge Jones barred Zhao from leaving the U.S. pending a verdict in his case.

In February, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, said $26 billion passed through Binance Nigeria from unknown sources and users in one year.

The allegation came amid the free fall of the naira and clampdown on Bureaux de Change by President Bola Tinubu’s administration in an attempt to steady the rapid decline of Nigeria’s currency, naira.

Cardoso said the government was “concerned that certain practices go on that indicate illicit flows going through a number of these entities, and suspicious flows at best”.

The Nigerian government later arrested two Binance executives for alleged money laundering – Tigran Gambaryan, a U.S. citizen and Binance’s head of financial crime compliance, and Nadeem Anjarwalla, a British-Kenyan who is African regional manager for the cryptocurrency trading firm.

Anjarwalla later escaped from detention and fled to Kenya. Meanwhile, their trial has commenced in a Federal High Court in Abuja.

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Spain Train Crash Kills at Least 64, Leaves 80 Injured

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Rescue team members arrive at the scene where two high-speed trains crashed in the village of Urda in Toledo, Spain, on October 28, 2026 [Ismael Herrero/EPA]
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At least 64 people have been killed and about 80 others injured after two high-speed trains collided in central Spain, according to regional authorities.

The accident occurred early Wednesday near Urda in Toledo province, south of Madrid, along the high-speed railway line connecting the Spanish capital with Seville.

The head of the Castilla-La Mancha regional government, Emiliano García-Page, said about 50 of the injured were in serious condition, while 15 others were critically injured. He warned that some of the most seriously injured victims might not survive.

Spain’s Health Minister, Mónica García, said the injured were being transported to several hospitals across the region for treatment.

The collision involved a Renfe-operated AVE high-speed train travelling from Madrid to Seville and another train operated by private railway company Iryo.

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Esther Padilla, a spokeswoman for the Castilla-La Mancha regional government, told Spanish public broadcaster TVE that both trains were travelling in the same direction when one struck the rear of the other, which had stopped.

The impact caused carriages to derail, with two carriages of the Iryo train reportedly plunging down an embankment.

Authorities said 397 passengers were aboard the Renfe train, while 147 were travelling on the Iryo train, bringing the total number of passengers involved to 544.

Signalling System Failure Under Investigation

Spain’s Transport Minister, Óscar Puente, said a failure of the railway’s signalling and control system preceded the accident.

Puente explained at a press conference that the LZB train control system went down at about 8:30 a.m. along a 63-kilometre stretch of railway, affecting six trains, although he said the exact number remained uncertain.

Following the failure, control was transferred to the Atocha control post, where a decision was made to allow the Renfe train to resume its journey.

“The decision to resume traffic without the system having been restored corresponds to the control centre,” Puente said, describing the circumstances as “inexplicable”.

Emergency workers were concentrating on rescuing survivors and recovering bodies from the most severely damaged carriages.

More than 200 members of Spain’s Military Emergencies Unit were deployed to the crash site, while local authorities mobilised food and other essential supplies for those affected.

Footage circulating on social media showed wreckage scattered along a slope, with rescue workers and members of the public gathered around the damaged train.

High-Speed Rail Services Suspended

Spain’s railway infrastructure operator, ADIF, suspended high-speed rail services between Madrid and the southern region of Andalusia following the collision.

The disruption resulted in delays and cancellations, with passengers waiting at railway stations, including Sevilla Santa Justa station.

The Civil Guard also deployed a disaster investigation team to the scene to assist with the investigation into the circumstances surrounding the crash.

Madrid Mayor José Luis Martínez-Almeida said the capital was sending emergency medical teams and firefighters to support rescue operations.

Government, European Leaders React

Spanish Prime Minister Pedro Sánchez said he was shocked by the tragedy and was in contact with Transport Minister Puente and Castilla-La Mancha regional leader García-Page as emergency crews continued their work.

“Shocked by the serious train accident in Toledo. My affection, solidarity, and support to all the victims and their families,” Sánchez said in a post on X.

European Commission President Ursula von der Leyen also expressed her condolences to the victims and their families.

“Today, Europe mourns with you,” she said.

French President Emmanuel Macron expressed solidarity with Spain, saying his thoughts were with the victims, their families, the injured and the emergency workers responding to the disaster.

The crash comes nine months after another accident involving high-speed trains operated by the same companies on the same railway line reportedly killed 46 people.

Journalist Graham Keeley, speaking to Al Jazeera from Spain, said the latest tragedy had come at a difficult time for the Spanish government, with an election expected in just over a month.

He noted that following the January accident, the government had promised to conduct safety checks across the country’s railway network.

The investigation is expected to examine the signalling failure, the decision to resume train movements and the sequence of events that led to the collision.

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France braces for another weekend of protests as authorities launch massive security operation

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France is bracing for yet another wave of protests this weekend with authorities racing to prevent a repeat of the kind of violence and riots that hit the nation last week.

French authorities will be launching a massive security operation with some 70,000 police officers deployed across the country over the weekend, according to the interior ministry.

Specialist SWAT units, helicopters, armored vehicles, police dogs and water cannons will all be part of the operation. On top of that, the number of French army soldiers that normally patrol Paris as part of the country’s counter-terrorism measures will be increased to free the police from stationary guard duties.

Interior Minister Laurent Nuñez issued a stark warning on Friday to anyone looking for trouble, saying the government would be “uncompromising with those who engage in destruction.”

Last week’s violence followed weeks of protests over education, dismal job prospects and the cost of living. Initially peaceful and attended mostly by students, the demonstrations quickly turned into the worst wave of deadly, nationwide violence in years.

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This week, curfews were imposed in some cities to help maintain calm.

Bracing for Saturday

A large demonstration has been called for Saturday afternoon in Paris and French media are expecting hundreds of thousands of people to attend.

The protest is organized by France’s main student union, UNEF, with one of the country’s biggest trade unions, CGT, announcing it would join. Other groups are expected to attend, including farmers, climate activists and the Yellow Vests, the movement that first emerged in 2018 during the protests over fuel costs.

While the protest in Paris has been authorized by the authorities, French President Emmanuel Macron on Thursday banned all non-trade union protests on Saturday as he seeks to control the civil unrest.

But the preparations go well beyond bans and police warnings, especially since last week’s riots sparked criticism of the authorities for not taking the threat seriously enough.

A police officer ties in place a perimeter tape near Chatelet – Les Halles to enforce a curfew, in central Paris on October 20.

A police officer ties in place a perimeter tape near Chatelet – Les Halles to enforce a curfew, in central Paris on October 20.
Simon Wohlfahrt/AFP/Getty Images

The City of Paris announced earlier this week it was clearing public spaces of equipment and materials that could be used to cause damage, including barriers, bins, construction material and other items.

Many of the main tourist sites in the French capital, including world-famous museums like the Louvre, the Musée d’Orsay and the Musée de l’Orangerie will be closed on Saturday.

Art Basel finished the Paris version of its fair on Friday, two days earlier than scheduled. The Paris National Opera cancelled its performances on Saturday, citing the protests as the reason, and at least two dozen metro stations will also be closed for much of the day, according to Paris municipal authorities.

An NFL game between Pittsburgh Steelers and New Orleans Saints is set to take place at the Stade de France just outside of the capital on Sunday. While the match is scheduled to go ahead, a Steelers fan event in Paris was cancelled by the NFL.

During last weekend’s riots, at least two people died and multiple others suffered serious injuries, including two people who lost their hands. French Justice Minister Gérald ​Darmanin said some 2,700 people were held for questioning and 232 have been incarcerated in connection to the riots. (CNN)

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Six people missing as plane vanishes from Bermuda to Boston

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Six people are missing after a private jet vanished, sparking a major search off the coast of Nantucket in the US. Picture: X
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There are grave fears for the passengers of a private plane that suddenly vanished mid-flight, sparking a major search off the coast of the US.

Six people are missing after a private jet vanished en route from Bermuda to Boston, sparking a major search off the coast of Nantucket in the US.

US authorities say the Gulfstream G100 lost contact with air traffic control about 2am local time on Saturday (4pm Saturday AET) while flying from L.F. Wade International Airport in Bermuda to Boston Logan International Airport.

The US Coast Guard said the Federal Aviation Administration alerted it after contact was lost with the aircraft – which plummeted from 23,500 feet to 11,000 feet in just three minutes, according to FlightAware data.

“We are praying for a safe outcome,” a spokesperson for Latitude Air Ambulance, which operates the missing plane, told City News.

A search is now under way off Nantucket in the air and on water as crews work to locate the missing jet, the Coast Guard said. Data from FlightRadar24 showed a number of aircraft searching south of the island.

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Six people are missing after a private jet vanished, sparking a major search off the coast of Nantucket in the US.

The plane was en route from Bermuda to Boston when it vanished.

“Air & surface crews have launched in search of the aircraft. Updates will be provided here as info becomes available,” the Coast Guard Northeast District said on X.

The plane was carrying out a medical evacuation in Bermuda – a British overseas territory in the north Atlantic Ocean, according to Clarence Togeretz, Director of Flight Operations at Latitude Air Ambulance.

“We always get rather concerned when our crew doesn’t report to us in a timely manner,” he told NBC News.

“But I will say that again, optimistically and positively, that doesn’t mean that the worst has happened.”

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