Binance's CZ Faces Potential Prison Time, but Exchange Remains Resilient

The U.S. Department of Justice argues that Changpeng 'CZ' Zhao, former CEO of Binance, is a manageable flight risk and should not be allowed to leave the United States despite his voluntary surrender. Prosecutors believe that the potential severity of his sentence for breaking anti-money laundering laws would give him incentive to flee back to the UAE, which has no extradition treaty with the U.S. Zhao pleaded guilty and stepped down as CEO, while Binance agreed to pay $4.3 billion in penalties. Fellow executive Sam Bankman-Fried remains in custody awaiting sentencing.