Binance Founder CZ Ordered to Stay in US Until Sentencing

Binance founder Changpeng Zhao, also known as CZ, is unable to return to the UAE until his sentencing in February 2024, as ruled by a federal judge. Zhao, who pleaded guilty to violating the Bank Secrecy Act, was released on a $175 million bond but prosecutors argued he was a flight risk. The judge agreed, citing Zhao's significant wealth, lack of an extradition treaty with the UAE, and his family residing there. Zhao may face up to 18 months in prison, but the judge noted that he could serve as few as 10.