Breaking: Binance Founder Changpeng ‘CZ’ Zhao Seeks Order Related To Travel Permission
In the latest development in the U.S. Department of Justice (DOJ) against Changpeng ‘CZ’ Zhao, Binance founder CZ requested a federal court to grant an order related to travel permission.
Former Binance CEO Changpeng Zhao was earlier ordered by the court to remain in the continental United States during the period between his plea and sentencing in February 2024.
Ex-Binance CEO Changpeng Zhao Again Seeking Travel Permission?
Attorney for former Binance CEO Changpeng Zhao submitted a motion to seal earlier motion related to permission to travel, as per a filing late December 27.
Defendant CZ moves the court for an order sealing submission for permission to travel and submission to travel. Also, sealing the proposed order related to a motion to seal submission for permission to travel. Changpeng Zhao requests sealing the motion, submission, and order as it contains sensitive private medical information of his child.
CoinGape reported that Judge Richard Jones earlier accepted a motion by CZ to seal documents in opposition to the government’s motion for review of the magistrate judge’s ruling on the defendant’s presentencing travel restrictions. A magistrate judge earlier allowed CZ to travel to his family in the UAE and return before the sentencing hearing. However, DOJ prosecutors believed there’s a flight risk of CZ to a country that doesn’t have an extradition treaty with the US.
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CZ Wealth Grows by $25 Billion
CZ pleaded guilty to DOJ charges of anti-money laundering laws violation. He stepped down as CEO of Binance and chairman of Binance.US board of directors. The stipulated guideline range for the offense is either 10-16 months or 12-18 months imprisonment, considering the situation.
Despite legal troubles and other matters, Changpeng ‘CZ’ Zhao’s wealth increased by $25 billion in 2023, indicating the resilience of the crypto exchange Binance.
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