Changpeng Zhao, aka CZ, founder of cryptocurrency exchange Binance, was denied permission to travel to the United Arab Emirates last month. The judge denied the request despite offering to put up his roughly $4.5 billion stake in the company as security.
The details were revealed in newly released court filings related to CZ’s November guilty plea for Binance’s lax anti-money laundering controls. He faces sentencing on February 23rd in the $4.3 billion settlement.
Key Details:
- CZ sought the judge’s approval for a 1-4 week UAE visit in December.
- The stated reason was the hospitalization and surgery of an unnamed person in his life.
- Offered to post $4.5 billion in Binance equity as an assurance of return.
- The judge held a hearing but rejected the request to travel.
- Previous denials cited flight risk due to wealth abroad.
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