News

Former SEC Official Foresees Binance Founder CZ’s Extended Stay in US

Former SEC official foresaw the delay in Binance CZ's request to travel back to UAE as the court recognizes a potential flight risk.
Published by
Former SEC Official Foresees Binance Founder CZ’s Extended Stay in US

In a recent X post, former SEC Chief for Internet Enforcement John Reed Stark shed light on the ongoing US stay orders for Changpeng Zhao aka Binance CZ.

Binance CEO Changpeng Zhao finds himself in an uncertain position as Judge Richard A. Jones issues a stay on the condition allowing CZ to return to the United Arab Emirates (UAE) pending sentencing. The decision, outlined in a recent court order, compels CZ to remain in the Continental United States due to money laundering charges. The court is still reviewing the government’s indication for a reconsideration of his bond conditions.

Advertisement

Stark’s Prediction On Binance CZ Amid Flight Risks Concerns

Stark accurately put the unfolding drama in an X post predicting potential adjustments to CZ’s bond conditions. Stark suggested that the judge might opt for additional assurances or a delay in decision-making. Indeed, Judge Jones chose the latter due to potential flight risks.

Further, Stark highlighted that Judge Jones will order a delay of his decision so he can ponder the issues for a bit longer. The stay may lead to potential findings in the ongoing investigation.

The development takes a darker turn for CZ as the Department of Justice (DOJ) emphasizes the recommendation of the U.S. Federal District Court’s Pre-trial Services Division for his detention.

In their recent reply action, the DOJ rebuts the defense’s claims of misrepresentation, clarifying that Pre-trial Services did recommend detention for CZ. This revelation significantly complicates CZ’s legal standing.

Stark highlights the defense’s assertion that it was misleading for the United States to mention Pre-trial Services recommended detention. The United States clarified that they did not claim Pre-trial Services suggested or advocated for anything, merely noting their recommendation for detention.

Also Read: BitMEX Founder Lashes Out At US Agencies Over Treatment of CZ

Advertisement

CZ’s “Close Call” Raises Doubts, Restriction Increases

Judge Tsuchida said it was a tough decision to let CZ go back to the UAE. Stark thinks this means even the first judge isn’t sure about keeping things the way they are and might change it.

In his final comments, Stark suggests that Judge Jones should proceed with pre-trial services’ advice. This will bar CZ from traveling to the UAE until the sentencing hearing. This recommendation gains weight when considering CZ’s limited ties to the United States. The perceived risks associated with his strong connections to the UAE remain.

Also Read: Coinbase CEO: It’s Time to ‘Turn the Page’ After Binance Settlement

Advertisement

Share
Coingapestaff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

ProShares Files for Index Crypto ETF Tracking Bitcoin, Ethereum, XRP, and Solana

Leading asset manager ProShares is seeking to establish a new crypto ETF tracking the CoinDesk…

October 22, 2025
  • News

Trump Says Meeting with China May Not Happen, Bitcoin Drops

U.S. President Donald Trump has cast doubts over his meeting with China's President Xi Jinping.…

October 21, 2025
  • News

The Great Rotation? Bitcoin Rises as Gold Sees Largest Daily Drop Since 2013

Experts have indicated that a rotation might be occurring with investors moving from gold to…

October 21, 2025
  • News

Crypto Czar David Sacks to Meet Senate Republicans In Bid To Advance Market Structure Bill

Crypto and AI Czar David Sacks is set to meet with Republican members of the…

October 21, 2025
  • News

Waller Floats ‘Payment Account’ Framework to Provide Crypto Firms Access To Fed’s Payment Rails

Federal Reserve Governor Chris Waller has floated the idea of a 'Payment account' framework that…

October 21, 2025
  • Altcoin News

Aster Outpaces Lighter in Perp DEX Rankings as Wintermute Buys the Dip After Previous Dump

Aster is regaining momentum in the perp DEX space as it outpaces Lightchain in 24-hour…

October 21, 2025