Just In: US Court Modifies Changpeng ‘CZ’ Zhao’s Bail Bond
Highlights
- Binance Founder has been remanded in the US once again
- New court order just modified the terms of his bail bond
- Among the conditions is the hand over of his passport to a third-party authority
A new court filing has listed the modifications to the Changpeng ‘CZ’ Zhao’s bail bond.
Changpeng Zhao to Remain in the US
According to the filing with the United States District Court for the Western District of Washington at Seattle, the Court has once again retained its stance to keep the former CEO of Binance in the United States until his sentencing. All appeals for consideration by CZ’s lawyer in this regard have proved abortive.
Shortly after pleading guilty to the charges levied against him and resigning from the top crypto exchange, he was withheld in the United States and prohibited from returning to the United Arab Emirates where he claimed to have family ties. Noteworthy, CZ holds dual citizenship in Canada and the UAE. Over and again, CZ’s legal team contested the U.S. Department of Justice (DOJ) decision to prevent his return to the UAE.
In January when he claimed to have a family emergency and even offered $4.5 billion in Binance equity as security, his request was still denied by Judge Richard Jones.
With the government’s modification still insisting on the ‘no travel’ out of the U.S., it looks like the crypto pioneer may have to comply, at least until his sentencing. Changpeng Zhao is allowed to travel within the United States but this must be done after the Pretrial Services has been duly notified.
Third Party Authority to Take Charge of CZ’s Passport
Generally, the DOJ is not taking chances with Changpeng Zhao and this prompted the request to modify his bail conditions. In addition to the modification, CZ is required to submit his Canadian passport to a third-party custodian. This individual must be someone who has been employed by CZ’s counsel of record and is supervised by the same.
The ex-Binance executive is expected to submit all expired and current passports as well as other travel documents to his counsel of record. In the case of any travel that needs identification by document, this third-party custodian is required to go with the former Binance boss. On no account would this entity release the passport to CZ unless authorized by the Pretrial Services or the court.
Based on the court’s order, Changpeng Zhao is not permitted to apply for a New passport pending his sentence hearing except when the court permits him.
- Trump-Backed World Liberty (WLFI) Plans RWA Tokenization Paired with USD1 Stablecoin
- Stripe Eyes U.S. Banking Charter, Pioneers One-Click Stablecoin Issuance for Firms
- Breaking: Metaplanet Expands Treasury With 5,268 BTC Purchase, Climbs to 4th Largest Holder
- BREAKING: Nasdaq Files with US SEC to List BlackRock Bitcoin Premium Income ETF
- Mr Beast, Whales Buy ASTER Token Amid 20% Crash, What’s Next?
- XRP Price Outlook After Ripple CTO David Schwartz Resigns
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?
- Analyst Predicts Dogecoin Price Surge as DOGE ETF AUM Hits $20M
- Ethereum Price Eyes $8,600 As Institutions And Whales Double Down
- Dogecoin Price Prediction – Chart Set-Up Highlights Perfect Buying Opportunity With Outflows Backing $0.45
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal 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.
