Just In: US Court Modifies Changpeng ‘CZ’ Zhao’s Bail Bond

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.