Judge rules Binance ex-chief CZ must remain in US
A judge has decided that the ex-chief of Binance, Changpeng Zhao (CZ), must remain in the country while he awaits sentencing for federal crimes. As part of its plea deal, Crypto exchange Binance agreed to pay a $4.3 billion fine for skirting anti-money laundering checks; CZ agreed to step down as its CEO. Now, he faces up to 10 years behind bars. US District Judge Richard Jones ruled on Monday that while awaiting sentencing in February, CZ cannot leave the country. Though he won’t spend his time in prison, he won’t be allowed to fly back home to Dubai. CZ’s lawyers filed a motion on Thursday, arguing that he willingly showed up in court once and will therefore do it again. However, prosecutors argued that CZ poses a significant flight risk if allowed to leave since the majority of his wealth is outside of the country and the UAE has no extradition deal with the US . What’s more, the ex- Binance chief enjoys special stat US in the UAE after obtaining ...