Binance co-founder and former CEO Changpeng “CZ” Zhao has been ordered for the second time to stay put in the United States, according to the latest report. This decision comes as the former executive awaits his sentencing hearing for violating banking laws in the US.
CZ Ordered Again Not To Travel Outside The US – Report
In a ruling on Friday, December 29, US District Judge Richard A. Jones denied the motion from Changpeng Zhao asking for permission to travel to the United Arab Emirates, where his family resides. The former Binance CEO had requested for clearance to leave the country while on bail.
In November, CZ stepped down as the chief executive of the world’s largest crypto exchange as part of a $4.3 billion settlement between Binance and the United States Department of Justice (DOJ). The former CEO also pleaded guilty to one count of violating the Bank Secrecy Act in the US.
This is not the first time Zhao will be blocked from leaving the US, as Judge Jones had reversed
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