Why was Binance CEO jailed?

Could you please explain to me in detail why the CEO of Binance was jailed? What specific actions or decisions did he make that led to this outcome? Was it related to any illegal activities or regulatory violations? Also, how does this situation impact the operations and reputation of Binance as a whole? Is there any chance of him being released soon, and what would be the likely consequences if he remains incarcerated? Thank you for clarifying this matter for me.