Changpeng Zhao has been denied a request to leave the U.S. despite pledging $4.5 billion for his return.
Zhao pleaded with the judge on the merits of a family medical emergency, but many remain skeptical given his impending judgment.
Although Changpeng Zhao, the former Binance CEO, has complied with the U.S., the exchange founder has met opposition in his attempts to leave the country. Court filings show that federal Judge Richard Jones has denied a request by the founder, who goes by his initials “CZ,” to leave the country and travel to the United Arab Emirates.
The criminal court filing from last month shows that CZ offered $4.5 billion in Binance equity as security for his return to the U.S. Filed by the founder’s lawyers, the valuation of the shares was based on the last funding round from two years ago. The filing further revealed that CZ wanted to travel to the United Arab Emirates for the “hospitalization and surgery” of a person in his life.
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