Binance exchange (Binance) and its founder Changpeng Zhao (CZ) and the U.S. Department of Justice reached the largest cryptocurrency corporate settlement in history in late November last year. According to the judge's order, CZ is required to remain in the United States and cannot return to his residence in the United Arab Emirates until sentencing on February 23, 2024. This decision has significant implications for CZ and Binance.
He once again asked to return to the United Arab Emirates for surgery but was refused
According to CNBC, on December 22 last year, CZ’s lawyer once again wrote to the federal judge requesting that CZ be allowed to return to Abu Dhabi on January 4. than, for one to four weeks to allow him to undergo hospitalization, surgery and recovery. Although the specific details of the surgery have not been made public, it requires general anesthesia and requires six hours of rest in the hospital after surgery and a two-week recovery period.
In addition, in order to successfully carry out the return home surgery, CZ also mortgaged all of his equity in Binance US as security. Based on Binance’s last funding round two years ago, the stake was worth as much as $4.5 billion. The lawyer also assured in the letter that CZ will provide his itinerary and other relevant information to the federal court in the Western District of Washington before departure, and will report the situation to relevant officials immediately after returning home.
Lawyers wrote to Judge Jones
Finally, according to court records, Judge Jones held a closed hearing on the request on December 29. , and concluded that CZ’s request was rejected.
Prior to this request, U.S. prosecutors had asked the judge to restrict CZ from leaving the country on the grounds that Zhao Changpeng might flee. After more than two weeks of review, the judge held that CZ should stay in the United States until February 23, 2024, because he may face the risk of absconding if he leaves the United States. At the time, Judge Jones wrote: The defendant has vast wealth and property abroad and has no ties to the United States. His family lives in the UAE and appears to enjoy a favorable position there. Based on these circumstances, the court found that the defendant had not provided clear and convincing evidence that he was unlikely to flee upon his return to the UAE.
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