DOJ asks to keep Changpeng Zhao at large until the verdict is announced

Nov 27, 2023
The US Department of Justice does not want Changpeng Zhao to be detained until sentencing and at the same time leave the United States.

At the end of last week, CZ’s lawyer said that the founder and former CEO of Binance, who has UAE and Canadian passports, entered the United States to testify in court. This fact indicates that Zhao does not plan to hide from justice.

In turn, American prosecutors argue that severe punishment may encourage CZ to return back to the UAE. And there is no extradition treaty between the United States and the UAE.

The lawsuit reports on the possible punishment of the former CEO of the Binance crypto exchange from 18 months to 10 years.

Recall that last week Zhao pleaded guilty to money laundering in the United States and resigned as CEO of Binance. Meanwhile, the exchange pleaded guilty to numerous criminal and civil charges and agreed to pay fines of $4.3 billion.