In the ongoing legal battle involving the U.S. Department of Justice (DOJ) and Binance founder Changpeng ‘CZ’ Zhao, a recent development reveals that CZ has formally requested a federal court to issue an order concerning travel permissions.
Following a court directive earlier instructing former Binance CEO Changpeng Zhao to remain within the continental United States between his plea and the scheduled sentencing in February 2024, CZ is now seeking approval for travel outside the country.
Renewed Motion for Travel Permission
Attorneys representing Changpeng Zhao submitted a motion, dated late December 27, seeking to seal a prior motion associated with travel permissions. The defendant, CZ, is urging the court to seal the submission for travel permission, the accompanying submission to travel, and the proposed order linked to the motion, citing the presence of sensitive private medical information pertaining to his child.
Previous Judicial Actions
CoinGape reported that Judge Richard Jones had previously accepted a motion by CZ to seal documents opposing the government’s review of the magistrate judge’s ruling on pre-sentencing travel restrictions. A magistrate judge had granted CZ permission to travel to his family in the UAE with the condition of returning before the sentencing hearing. However, Department of Justice prosecutors expressed concerns about the possibility of CZ being a flight risk to a country without an extradition treaty with the United States.
CZ’s Legal Situation
Changpeng Zhao has pleaded guilty to charges by the DOJ related to violations of anti-money laundering laws. Following this, he stepped down from his roles as CEO of Binance and chairman of Binance.US board of directors. The stipulated guideline range for the offense is either 10-16 months or 12-18 months imprisonment, depending on the circumstances.
Wealth Amidst Legal Challenges
Notwithstanding the legal challenges and ongoing proceedings, Changpeng ‘CZ’ Zhao’s wealth reportedly increased by $25 billion in 2023, underscoring the resilience of the cryptocurrency exchange Binance in the face of adversity.
