Former Binance CEO Changpeng “CZ” Zhao will still not be allowed to leave the United States ahead of his sentencing hearing following an order from a federal judge.

In a Dec. 29 ruling as part of a hearing in U.S. District Court for the Western District of Washington in Seattle, Judge Richard Jones denied a motion from CZ requesting permission to travel outside the country. The reasons for the second motion were unavailable to the public, having been sealed by the court, but CZ’s legal team suggested it involved “medical information regarding Mr. Zhao’s child.”

On Dec. 7, Judge Jones ordered Zhao to remain in the United States following a motion requesting permission to travel. The judge suggested CZ could be a flight risk if allowed to travel to his home in Dubai, where his family lives. 

CZ pleaded guilty to one felony count as part of a $4.3 billion deal between the former CEO, Binance, and U.S. authorities. He is expected to be sentenced in February, when he could face up to 18 months in prison.

Related: Amid legal troubles, Changpeng Zhao’s wealth increased by $25B in 2023

According to the order, CZ will remain free on a $175 million bond but is restricted from traveling outside the United States. Former Celsius CEO Alex Mashinsky — Go to Source to See Full Article
Author: Turner Wright

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