<p>In a recent X post, former SEC Chief for Internet Enforcement John Reed Stark shed light on the ongoing <a href="https://coingape.com/breaking-binance-founder-ordered-to-stay-in-us-until-his-sentence-hearing/" target="_blank" rel="noopener">US stay orders</a> for Changpeng Zhao aka Binance CZ.</p> 
<p>Binance CEO Changpeng Zhao finds himself in an uncertain position as Judge Richard A. Jones issues a stay on the condition allowing CZ to return to the United Arab Emirates (UAE) pending sentencing. The decision, outlined in a recent court order, compels CZ to remain in the Continental United States due to <a href="https://coingape.com/breaking-binance-ceo-resigns-as-part-of-doj-settlement/" target="_blank" rel="noopener">money laundering</a> charges. The court is still reviewing the government’s indication for a reconsideration of his bond conditions.</p> 
<h2 id="stark-s-prediction-on-binance-cz-amid-flight-risks-concerns">Stark’s Prediction On Binance CZ Amid Flight Risks Concerns</h2> 
<p>Stark accurately put the unfolding drama in an X post predicting potential adjustments to CZ’s bond conditions. Stark suggested that the judge might opt for additional assurances or a delay in decision-making. Indeed, Judge Jones chose the latter due to potential <a href="https://coingape.com/binance-founder-gets-pushback-from-doj-on-travel-restrictions/" target="_blank" rel="noopener">flight risks</a>.</p> 
<p>Further, Stark highlighted that Judge Jones will order a delay of his decision so he can ponder the issues for a bit longer. The stay may lead to potential findings in the ongoing investigation.</p> 
<p>The development takes a darker turn for CZ as the Department of Justice (DOJ) emphasizes the recommendation of the U.S. Federal District Court’s Pre-trial Services Division for his detention.</p> 
<p>In their recent reply action, the DOJ rebuts the defense’s claims of misrepresentation, clarifying that Pre-trial Services did recommend detention for CZ. This revelation significantly complicates CZ’s legal standing.</p> 
<p>Stark highlights the defense’s assertion that it was misleading for the United States to mention Pre-trial Services recommended detention. The United States clarified that they did not claim Pre-trial Services suggested or advocated for anything, merely noting their recommendation for detention.</p> 
<p><strong>Also Read: </strong><a href="https://coingape.com/bitmex-founder-lashes-out-at-us-agencies-over-treatment-of-cz/" target="_blank" rel="noopener">BitMEX Founder Lashes Out At US Agencies Over Treatment of CZ</a></p> 
<h2 id="cz-s-close-call-raises-doubts-restriction-increases">CZ’s “Close Call” Raises Doubts, Restriction Increases</h2> 
<p>Judge Tsuchida said it was a tough decision to let CZ go back to the UAE. Stark thinks this means even the first judge isn’t sure about keeping things the way they are and might change it.</p> 
<div class="flex-1 overflow-hidden"> 
 <div class="react-scroll-to-bottom--css-dtbbj-79elbk h-full"> 
  <div class="react-scroll-to-bottom--css-dtbbj-1n7m0yu"> 
   <div class="flex flex-col pb-9 text-sm"> 
    <div class="w-full text-token-text-primary" data-testid="conversation-turn-15"> 
     <div class="px-4 py-2 justify-center text-base md:gap-6 md:py-6 m-auto"> 
      <div class="flex flex-1 text-base mx-auto gap-3 md:px-5 lg:px-1 xl:px-5 md:max-w-3xl lg:max-w-[40rem] xl:max-w-[48rem] } group final-completion"> 
       <div class="relative flex w-full flex-col lg:w-[calc(100%-115px)] agent-turn"> 
        <div class="flex-col gap-1 md:gap-3"> 
         <div class="flex flex-grow flex-col max-w-full"> 
          <div class="min-h-[20px] text-message flex flex-col items-start gap-3 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto" data-message-author-role="assistant" data-message-id="36d7d2e1-7a30-4ddc-86da-c80cacc7f59e"> 
           <div class="markdown prose w-full break-words dark:prose-invert light"> 
            <p>In his final comments, Stark suggests that Judge Jones should proceed with pre-trial services’ advice. This will bar CZ from traveling to the UAE until the sentencing hearing. This recommendation gains weight when considering CZ’s limited ties to the United States. The perceived risks associated with his strong connections to the UAE remain.</p> 
            <p><strong>Also Read:&nbsp;</strong><a href="https://coingape.com/coinbase-ceo-its-time-to-turn-the-page-after-binance-settlement/" target="_blank" rel="noopener">Coinbase CEO: It’s Time to ‘Turn the Page’ After Binance Settlement</a></p> 
           </div> 
          </div> 
         </div> 
        </div> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
  </div> 
 </div> 
</div> 
<p>The post <a rel="nofollow" href="https://coingape.com/former-sec-official-foresees-binance-founder-cz-extended-stay-in-us/">Former SEC Official Foresees Binance Founder CZ’s Extended Stay in US</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.</p>

Former SEC Official Foresees Binance Founder CZ’s Extended Stay in US

Table of Contents

Coingape News Media

Other articles published on Nov 28, 2023

Shuffle & TRICE Staking Service

Announcing the Launch of Full Trading on the dYdX Chain - Unlocking Trading Rewards & 6 Month Inc...

Chainlink Sees Strong Support From Bulls As Accumulation Increases! Could LINK Price Be Gearing U...

Polygon (MATIC) Distribution Jumps: Is Price About to Drop?

TRM Labs Taps Swyftx to Tackle Crypto Scams in Australia

Spain’s Crypto Users to Declare Digital Assets on Foreign Platforms as Tax Agency Updates Guidelines

Join our free newsletter for daily crypto updates!