- A federal judge last month rejected a request by Binance founder Changpeng “CZ” Zhao to travel to the United Arab Emirates for the “hospitalization and surgery” of a person in his life.
- Zhao had offered to post his $4.5 billion in Binance equity as security for his return to the U.S., a new criminal court filing reveals.
- The valuation of his shares was based on Binance’s last round of fundraising two years ago, Zhao’s lawyers wrote in a Dec. 22 letter to Judge Richard Jones, according to a filing.
A federal judge last month rejected a request by Binance founder Changpeng “CZ” Zhao to travel to his home in the United Arab Emirates for the “hospitalization and surgery” of a person in his life even though he offered to post his Binance equity as security for his return to the U.S., a new court filing reveals.
The equity was worth $4.5 billion, based on Binance’s last round of fundraising two years ago, Zhao’s lawyers noted in their Dec. 22 letter to Judge Richard…