Source: a video screenshot, Entrepreneur ME / YouTube
Binance founder and former CEO, Changpeng Zhao, must stay in the U.S. for the time being until a federal judge decides whether or not he will have to stay in the country until his sentencing in February of next year.
Last week, Zhao stepped down from his role as CEO of Binance, pleading guilty to violating the Bank Secrecy Act. Binance must pay $4.3 billion in fines and penalties while making a “complete exit” from the U.S. market.
Zhao is currently out on a $175 million bail until his flight risk status is decided.
Zhao’s guilty plea comes just weeks after his rival, FTX founder, Sam Bankman-Fried, was found guilty on seven different fraud charges in Manhattan federal court.
The post U.S. Judge: Binance Founder Changpeng “CZ” Zhao Cannot Leave the U.S. For the Time Being – What’s Going On? appeared first on Cryptonews.