Binance founder Changpeng “CZ” Zhao must stay in the United States until he is sentenced in Feburary, a federal judge has ruled.
On Dec. 7, Seattle District Court Judge Richard Jones agreed with federal prosecutors that Zhao should stay in the U.S. until his Feb. 23, 2024, sentencing due to his risk of flight if he leaves the country.
“The defendant has enormous wealth and property abroad, and no ties to the United States,” Judge Jones wrote.
“His family resides in the UAE and it appears that he has favored status in the UAE. Under these circumstances the Court finds that the defendant has not established by clear and convincing evidence that he is not likely to flee if he returns to the UAE,” he added.
This is a developing story, and further information will be added as it becomes available.