Binance Founder Changpeng 'CZ' Zhao Isn't a Flight Risk, His Attorneys Say
Summary
Binance founder Changpeng "CZ" Zhao has been deemed by a judge not to be a flight risk and can return to the UAE, according to a court document response to a U.S. Department of Justice (DOJ) filing. Zhao had pled guilty to a charge of violating the Bank Secrecy Act and his sentencing is scheduled for February 2024. The DOJ had argued against his return to the UAE, but the court document highlighted Zhao's cooperation and financial commitment as reasons for him to be allowed to return home. Binance, under Zhao's leadership, also pled guilty to charges and agreed to pay a $4.3 billion fine and accept Zhao's resignation.
