Changpeng Zhao, better known as CZ, the founder of Binance, has recently grappled with significant legal hurdles in the U.S. His guilty plea in a notable case led a Seattle federal judge to impose movement restrictions on him.
Former Binance Boss CZ Restricted to U.S. Soil
As the pivotal figure of Binance, CZ admitted guilt for not establishing anti-money laundering measures and breaching U.S. sanctions. His plea, which included resigning as the CEO, brought considerable repercussions for both him and the crypto exchange firm.
U.S. District Judge Richard Jones, on Thursday, reversed a previous ruling that would have permitted Zhao to travel back to the United Arab Emirates (UAE). Pointing to Zhao’s substantial assets and weak connections to the U.S., Judge Jones highlighted the flight risk he poses. This decision came after Jones consented to the plea agreement between the U.S. authorities and CZ, amid Binance’s settlement process.
Judge Jones expressed that the court wasn’t pers
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