A court order preventing the founder of Binance from traveling to the Emirates – East Economy with Bloomberg

Fears of Binance founder escaping

Zhao, who resigned as CEO of Binance as part of a plea deal, theoretically faces up to 10 years in prison, but is expected to get no more than 18 months in prison. He also agreed to pay a fine of $50 million.

Cryptocurrency trading volumes on the US “Binance” evaporated

Binance itself also pleaded guilty and agreed to pay $4.3 billion in penalties and forfeitures. It also faces civil lawsuits from investors seeking to recover billions lost during the cryptocurrency exchange crisis.

Last Wednesday, federal prosecutors asked Jones to overturn a magistrate judge’s decision to allow Chow to return home on bail, noting that there was a “significant risk” that he would not return to the United States due to his large assets, his ties to the UAE, and the lack of an extradition agreement between Washington and Abu Dhabi.

For his part, Zhao claims that he does not want to escape, indicating that he came voluntarily and of his own free will to the United States.

In response to the government’s request for a travel ban outside America, Chow’s lawyers said: “Our client voluntarily chose to travel from his home in the Emirates to appear voluntarily before this court, and take responsibility for his actions, and the criminal and civil trial would not have taken place without Mr. Chow’s decision to resolve that dispute.” “And his voluntary choice to travel to Seattle and plead guilty.”