Binance founder Changpeng Zhao, also known as CZ, has been denied permission to travel abroad for the second time by a federal judge in the United States.
This decision follows Zhao’s guilty plea and release on a $175 million personal recognizance bond. The judge raised concerns about Zhao’s flight risk, highlighting the former Binance CEO’s ongoing legal challenges.
Judge Richard Jones has once again denied Changpeng Zhao’s request to travel abroad, citing concerns about the Binance founder’s potential flight risk.
This is the second time Zhao’s travel plans have been thwarted, following his guilty plea to a charge of violating the Bank Secrecy Act.
Zhao entered a guilty plea last month, admitting to violating the Bank Secrecy Act. Despite this admission, he was released on a $175 million personal recognition bond, indicating a substantial commitment of assets as bail.
The court’s sealed ruling did not provide specifics about Zhao’s reasons for wanting to travel, but the denial highlights the legal obstacles he still faces.
Zhao’s repeated denials of travel requests highlight the ongoing legal challenges and scrutiny he is facing even after stepping down as Binance CEO.
Zhao’s legal situation is complicated, and legal intricacies are highlighted by the circumstances surrounding his guilty plea and significant bond release.
