Binance co-founder CZ is set to face a sentencing hearing on Tuesday following a guilty plea to violations of the Bank Secrecy Act. Prosecutors have recommended a three-year prison term for CZ, citing violations that include bypassing federal sanctions and money laundering laws. The charges stem from Binance's practice of allowing users to open accounts with just an email address for cryptocurrency-only transactions. This has been described as a 'wild west' business model. Additionally, sentiment from Polymarket traders suggests that CZ might spend less than a year in prison.