Binance founder ordered to remain in US
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San Francisco: Binance founder Changpeng Zhao (also known as CZ), who pleaded guilty to criminal charges tied to his cryptocurrency exchange, has been ordered by a federal judge to remain in the US at least temporarily, according to a ruling issued by the court.
Zhao was released last week on a $175 million bond and has a sentencing hearing on February 23.
Prosecutors urged that Zhao be prevented from leaving the country before his sentencing, but his lawyers argued that he be allowed to travel, saying in a briefing that he "voluntarily flew" to the US for his guilty plea, reports CNBC.
“In the vast majority of cases, a multi-billionaire defendant who has pleaded guilty, faces possible prison time, and lives in a country that does not extradite its citizens to the US would be detained,” the government wrote in a filing to the court.
