OVERVIEW

Easy CZ: From Crypto Fame to Low-Security Game 🔒️ 

First Monday of the month, the last month of the quarter, and things are looking mighty nice and green on the screen. 💚 

In today’s Litepaper, CZ begins his four-month sentence in a low-security Santa Barbara prison—officially the richest prisoner in the U.S. ever.

Also on deck: how much Ethereum has left exchanges over the past week, Do Kwon’s settlement with the SEC, and some big GameFi news updates. 📰

Before we dive in, here’s today’s crypto market heatmap:

And here’s a look at crypto’s total and altcoin market cap YTD:

NEWS
CZ Goes To Jail 👮‍♂️

From Bloomberg: Binance’s CZ swapping his CEO office for a low-security prison in California. Zhao, now inmate 88087-510, is heading to Lompoc for a four-month stint. 🔒️ 

CZ, the richest guy ever to hit a US federal lockup, was initially set for SeaTac in Seattle. Non-US citizen status usually lands you in less cozy quarters. But surprise, surprise—he got Lompoc, a minimum-security joint where inmates chill on horse farms and enjoy the outdoors.

SeaTac is usually packed with folks awaiting trial for fraud, murder, and everything in between. But Zhao lucked out with Lompoc, which houses 2,160 inmates across its camp and main facility.

Back in April, Zhao got a slap on the wrist with a four-month sentence, much to the dismay of prosecutors who wanted three years. But his crime? Skipping on an anti-money laundering program, letting all sorts of unsavory characters—hackers, terrorists, you name it—trade crypto.

In a deal with Uncle Sam, Binance admitted to breaking banking laws and sanctions, agreeing to cough up $4.30 billion to settle the score. 🏛️