Hey folks.
It has been revealed that the former CEO of Binance Changpeng Zhao who sought permission to travel to the United Arab Emirates, has been denied a travel request by a federal judge. Reportedly Changpeng Zhao sought to travel to his home in UAE for hospitalization and surgery of a person close to him.
CZ despite offering his Binance equity worth $4.5 billion as security for his return to the United States, the request was denied by Judge Richard Jones.
According to court filings on Wednesday, CZ's lawyers wrote Judge Jones on December 22 stating the seriousness of the situation and his readiness to pledge his sizeable Binance equity as security.
Previously Changpeng Zhao had pleaded guilty in a Seattle federal court back in November for not keeping up an effective anti-money laundering policy at Binance, the biggest cryptocurrency exchange in the world.
Following his guilty plea, Changpeng Zhao resigned as CEO and is scheduled to be sentenced in February. According to reports, this is not the first time Changpeng Zhao's travel plans have been thwarted. Previously, his request was rejected by Judge Jones pleading to travel to the United Arab Emirates in December.
The identity of the patient receiving surgery and specifics of the medical procedure were redacted in the most recent court filing.
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