News View Non-AMP

Changpeng Zhao’s Pre-Sentencing Restrictions: A Prelude to April’s Verdict

Published by
Qadir AK

In a recent court filing, U.S. prosecutors have requested a tightening of the bond conditions for billionaire Changpeng Zhao aka CZ, the founder of Binance. This comes ahead of waiting for his sentencing in April for violating federal anti-money laundering laws. In brief, the proposed measures include surrendering his Canadian passport, providing advance notice of domestic travel, and restricting changing residence without prior approval.

Changpeng Zhao pleaded guilty in November to a charge related to failing to maintain an effective anti-money laundering program. This crime led to his resignation as Binance’s CEO. 

Court to put restriction on all Zhaos travels

Under the current bond conditions, Zhao would need to notify prosecutors and pretrial services at least three days before any domestic travel, allowing them to voice objections if any.

The new conditions also call for the surrender of Zhao’s current Canadian passport and past expired passports. Prosecutors have also prevented him from obtaining any new one without the court’s approval. 

Any change in residence would similarly require prior consent. While prosecutors argue these measures are necessary to ensure Zhao’s compliance, his legal team has opposed the proposal.

Zhao’s appeal to visit the UAE for a family emergency rejected

In December, Judge Richard Jones prohibited Zhao from traveling outside the United States citing concerns over his substantial wealth and limited ties to the country which posed a potential flight risk. 

In late January, a letter revealed that Zhao had sought permission to return to the UAE for four weeks to attend to a family matter. Despite offering to pledge all of his equity in Binance US as collateral which was valued at $4.5 billion, Judge Jones denied the travel request on December 29. Zhao currently resides in the U.S. on a $175 million personal recognisance bond.

Judge sanctions Binance’s $4.3 Billion plea deal in US Court

Binance has agreed to pay over $4.3 billion to settle multiple federal charges, characterized by Attorney General Merrick Garland as one of the largest corporate penalties in U.S. history. This settlement marks one of the most substantial criminal penalties imposed in the United States, targeting the world’s largest cryptocurrency exchange.

The cryptocurrency community is closely watching the developments surrounding one of the most influential figures in the industry. As the legal proceedings undergo, everyone is anticipating the final hearing. The sentencing in April will have significant implications for both CZ and the likes of cryptocurrency regulations.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

Bitcoin ETF Inflow Hits $588M—Is a $112K Rally Next?

The Bitcoin Price witnessed a turbulent price action over the past couple of days, driven…

June 25, 2025

Ethereum ETH Price Prediction 2025, 2026 – 2030: Will Ethereum Price Hit $3k?

Story Highlights The Ethereum price today is . ETH price with a potential surge could…

June 25, 2025

Trump News: $2.4B Crypto Push Begins with Truth Social ETF Filing

On Tuesday, the New York Stock Exchange (NYSE) filed a rule change to allow the…

June 25, 2025

Bitcoin Breakout Alert: Technicals Point Towards a New ATH—Here’s What’s Next!

Bitcoin (BTC) price has again stolen the spotlight, surging past a crucial resistance zone and…

June 25, 2025

Bitcoin Price Prediction: Top Analyst Eyeing $140K

After a shaky start to the week, Bitcoin has bounced back strongly, now trading around…

June 25, 2025

XRP News: Bybit Reports XRP Holdings Double in Just 6 Months

Rising tensions between Israel and Iran have created market uncertainty, leading investors to favor safer…

June 25, 2025