Changpeng Zhao Wishes to Travel Outside the US – Court Denies Appeal
Changpeng Zhao, the former head of Binance, encountered another setback in his legal saga as a U.S. federal judge disallowed his request to travel outside the United States ahead of his impending sentencing.
In a recent court session in Seattle’s U.S. District Court for the Western District of Washington, Judge Richard Jones rejected CZ’s bid, which was concealed from the public, citing undisclosed reasons linked to the well-being of Zhao’s child, as hinted by his legal team.
This ruling followed a prior directive on December 7 from Judge Jones, mandating Zhao to remain in the United States amid concerns of a potential flight risk should he return to his family in Dubai.
CZ had previously admitted to a felony charge as part of a massive $4.3 billion agreement with U.S. authorities and awaits sentencing in February, facing a possible sentence of up to 18 months behind bars.
While CZ will continue to remain free on a $175 million bond, he is barred from leaving the U.S. In contrast, former Celsius CEO Alex Mashinsky, facing charges of misleading practices, secured his release on a $40 million bond.
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The specifics of the undisclosed medical information presented by Zhao’s legal team remain shrouded in mystery. Zhao shares three children with Yi He, a former talk show host and co-founder of Binance.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
