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Home»ADOPTION NEWS»Former Binance CEO Changpeng Zhao has been banned from traveling again.
ADOPTION NEWS

Former Binance CEO Changpeng Zhao has been banned from traveling again.

By Crypto FlexsDecember 30, 20233 Mins Read
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Former Binance CEO Changpeng Zhao has been banned from traveling again.
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Former Binance CEO Changpeng Zhao has been banned from traveling again as he approaches sentencing on criminal charges in late February.

In order sealed on Friday The U.S. District Court for the Western District of Washington in Seattle denied Zhao’s “request for travel authorization.”

This is the second time the court has restricted Mr. Zhao’s movements. judge richard jones Bespeak It said last month that conditions under which Mr Zhao could return to his home in the United Arab Emirates before sentencing were “maintained until this court resolves the government’s motion for review.”

test I warned you Zhao said he posed a flight risk, citing his wealth and noting that the UAE does not have an extradition treaty with the United States.

CZ’s guilty plea

Zhao plead guilty He was charged in November in a Seattle court with violating the Bank Secrecy Act and causing a financial institution to violate the Bank Secrecy Act. He also agreed to pay a $50 million fine.

US Department of Justice stable A related incident last month with Binance, which was investigated for alleged money laundering, fraud and sanctions violations. The cryptocurrency exchange will pay a $4.3 billion fine, one of the largest corporate settlements in U.S. history.

Despite the legal troubles, Zhao’s wealth grew. rapidly That’s down nearly $25 billion in 2023, according to the Bloomberg Billionaires Index, and his wealth is now worth more than $37 billion, making him the 35th richest person in the world. According to jisoo.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Sarah is a reporter for The Block covering policy, regulation and legal events. Sarah was previously a reporter writing about securities regulation at CQ Legal, where she first began her reporting on cryptocurrencies. She Sarah has also written for The Bond Buyer and American Banker, among other financial publications. She graduated from the University of Missouri with a degree in Print and Digital Journalism. Sarah lives in Washington, DC and she is an avid coffee lover. You can follow her on Twitter @ForTheWynn.

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