The judge rejected Changpeng Zhao’s second attempt to travel to the UAE.
Former Binance CEO Changpeng “CZ” Zhao is still not allowed to leave the United States before his sentencing hearing, according to an order from a federal judge.
In a Dec. 29 ruling as part of a trial in the U.S. District Court for the Western District of Washington in Seattle, Judge Richard Jones denied CZ's request for permission to travel out of the country. The reasons for the second request were sealed by the court and were not available to the public, but CZ's legal team said it included “medical information regarding Mr. Zhao's son.”
On Dec. 7, Judge Jones ordered Zhao to remain in the United States, requesting permission to travel. The judge suggested that CZ would be a flight risk if allowed to travel to his family home in Dubai.
CZ pleaded guilty to one count of criminal charges as part of a $4.3 billion settlement between its former CEO, Binance, and US authorities. He is expected to be sentenced in February, where he faces up to 18 months in prison.
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Under the order, CZ remains free on a $175 million bond but is restricted from traveling outside the United States. Former Celsius CEO Alex Mashinsky — who was arrested in July on charges of misleading and defrauding consumers — was free on $40 million bond.
In the year Following his extradition to the US in 2022, former FTX CEO Sam Bankman-Fried was initially allowed to stay at his parents' home in California. However, a judge ordered him to stay on charges of witness intimidation.
It is not clear what medical information Zhao's attorneys submitted to the court under seal. He reportedly has three children with former talk show host and Binance co-founder Yi He.
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