A United States district judge has actually ruled that Changpeng Zhao (CZ), the creator and previous CEO of the world’s biggest cryptocurrency exchange Binance, will stay in the nation up until his sentencing on February 23, 2024.
According to a main file, Judge Richard Jones concurred with the U.S. federal government that CZ’s go back to his home in the United Arab Emirates (UAE) was a flight threat as he has no strong ties to the U.S.
Remember that on November 21, CZ pleaded guilty to stopping working to preserve an efficient anti-money laundering program on Binance. As part of his settlement with the Department of Justice (DOJ), he paid a $50 million fine and stepped down from the position of the exchange’s CEO while Binance settled its charges for $4.3 billion.
The crypto magnate was launched from custody on a $175 million individual recognizance bond, with bail terms that guaranteed he would go back to the U.S. 14 days before his sentencing. He was needed to stay in the U.S. up until a federal judge evaluated the order to authorize or reject his bond conditions before going back to his home in the UAE.
The federal government asked for that CZ be restricted to the U.S.
