Order

Richard

United

In a recent legal development, the former CEO of cryptocurrency exchange Binance, Changpeng ‘CZ’ Zhao, has sought court intervention,<a href="https://twitter.com/nikhileshde/status/1740094399261069375?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1740094399261069375%7Ctwgr%5E81edd8c39637a055cb3147bc5d8c6c410311b0e3%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcoinpedia.org%2Fnews%2Fbinance-ex-ceo-changpeng-zhao-cz-requests-travel-permission-on-family-medical-condition%2F" rel="noopener noreferrer nofollow"> requesting an order</a> to seal a motion related to permission to travel. This development comes in the wake of the prior court directive instructing CZ to <a href="https://thecoinrise.com/former-binance-ceo-barred-from-leaving-the-u-s/" rel="noopener noreferrer nofollow">stay within the United States from the time of his plea to the scheduled sentencing</a> in February 2024.
In his pursuit for legal recourse, CZ’s request for a court order related to travel permissions adds a layer of complexity to an already closely monitored legal case. Also, the request to seal this particular motion implies a desire for confidentiality or limited public access to the details surrounding Zhao’s travel permissions.
As per the filing, CZ’s request to seal the motion is solely because it contains sensitive private medical information about his child.
<h2 id="b-cz-s-lawyers-attempts-to-convince-court-b">CZ’s Lawyers Attempts to Convince Court</h2>
Since his sentence hearing was slated for February 2024, CZ requested to return to the United Arab Emirates (UAE). His defense team approached the U.S. District Court on the matter citing that he posed no flight risk as he would return to the U.S. when it was time for his hearing. Zhao’s lawyers also mentioned that he has strong family ties in the UAE.
The court, however, did not consent to the request, instead, the prosecutors insisted that Zhao presented a flight risk. Furthermore, they pointed to his wealth and the fact that the UAE has no extradition treaty with the United States. However, a review clause was added and the latest ruling is a product of the review.
<h2 id="b-changpeng-zhao-and-potential-jail-term-b">Changpeng Zhao and Potential Jail Term</h2>
<a href="https://thecoinrise.com/sec-sues-crypto-exchange-binance-and-ceo-zhao/" rel="noopener noreferrer nofollow">Considering the gravity of his offense</a>, the Binance founder is likely to receive a sentence of up to 10 years in jail. Although some factors suggest that he will receive a lighter sentence. Up until the present charges from the Department of Justice (DOJ), the ex-Binance CEO had no criminal record. <a href="https://thecoinrise.com/us-doj-demands-over-4b-from-binance-to-resolve-probe/" rel="noopener noreferrer nofollow">The DOJ’s willingness to settle is also an advantage to CZ </a>as it suggests a potential arrangement.
The agency may decide to throw in probation for him or put him on house arrest. Noteworthy, the sentencing hearing is scheduled to happen in January 2024. Until that time, CZ is left with no other choice than to remain in the United States.
<h2 id="b-binance-ceo-quit-amidst-4-3b-settlement-b">Binance CEO Quit Amidst $4.3B Settlement</h2>
<a href="https://thecoinrise.com/changpeng-zhao-quits-as-binance-ceo-after-doj-settlement/" rel="noopener noreferrer nofollow">CZ quit his position as Binance CEO in November</a> after which he agreed to plead guilty to violating U.S. anti-money laundering laws. He regarded the decision to plead guilty as “the best for our community, for Binance, and myself.” This was right in the middle of his cryptocurrency exchange reaching a $4.3 billion settlement with the DOJ.
Immediately, Binance’s Global Head for Regional Markets Richard Teng was appointed as the new CEO. Notably, CZ’s <a href="https://thecoinrise.com/federal-court-accepts-binance-founders-guilty-plea/" rel="noopener noreferrer nofollow">guilty plea has been accepted by Judge Jones</a>.
The post <a href="https://thecoinrise.com/binance-founder-requests-a-court-order-to-seal-travel-permission-documents/" rel="noopener noreferrer nofollow">Binance Founder Requests a Court Order to Seal Travel Permission Documents</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Binance Founder Requests a Court Order to Seal Travel Permission Documents

Table of Contents

TheCoinrise Media

Other articles published on Dec 28, 2023

TrueUSD Announces Strategic Move for Transparency

Commodities tilting toward ‘great reset;’ Expert analysis

Is Mina Protocol Going to Zero? MINA Price Drops as New Mining Protocol Secures $6.4 Million

Shiba Inu Surge: Whales Drive Price, Supply Shrinks

Polygon zkEVM: Of rising adoption and MATIC’s price prediction

New Solana Memecoin, Silly Dragon (SILLY), Reaches 300% Weekly Rise

Join our free newsletter for daily crypto updates!