Binance Founder CZ Barred from Leaving US Until Sentencing

A US federal judge has ruled that Changpeng Zhao, the founder of cryptocurrency exchange Binance, must remain in the United States until his sentencing on criminal charges related to anti-money laundering violations. The judge granted prosecutors' request for travel restrictions, citing Zhao's significant wealth overseas and the lack of an extradition treaty between the US and the United Arab Emirates, where Zhao resides. Zhao pleaded guilty to failing to maintain an effective anti-money laundering program and faces 10 to 18 months in prison. Prosecutors argued that he could easily flee and sustain financial losses, while Zhao's attorneys emphasized his willingness to surrender and admit wrongdoing.