Changpeng “CZ” Zhao, the founder of Binance, faced a setback when a U.S. federal judge denied his request to travel overseas. Zhao, who faces criminal charges in the United States, had sought permission to visit the United Arab Emirates (UAE) where his three children and their partner live. He is not still not able to leave the U.S.
Judge Richard Jones of the U.S. District Court for the Western District of Washington made this decision, marking the second time Zhao’s travel request has been turned down. The judge’s ruling, which was sealed and not fully disclosed, comes after prosecutors argued that Zhao could potentially flee the country, considering his significant international ties and resources.
Previously, Zhao had pled guilty to a charge of violating the Bank Secrecy Act. Following his guilty plea, he was released on a substantial $175 million personal recognizance bond, along with other financial conditions. This latest ruling adds another layer to Zhao’s ongoing legal challenges in the U.S.