U.S. prosecutors are attempting to prevent former Binance CEO Changpeng Zhao (CZ) from leaving the United States before his scheduled sentencing hearing on February 23, 2024. This move comes after Binance reached a $4.3 billion settlement with the U.S. Department of Justice (DOJ) and other regulators over allegations of money laundering and other violations. The prosecutors argue that CZ poses a flight risk and that he could flee the country if he is allowed to leave. They also argue that CZ could continue to obstruct the DOJ's investigation if he is allowed to return to the United Arab Emirates (UAE), where he currently resides.
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