Changpeng Zhao (CZ), former CEO of the world’s biggest cryptocurrency exchange, Binance, rejected the US Department of Justice’s (DOJ) request to restrict his travel ahead of the sentencing.
As Coinlive reported on November 23, the US Department of Justice moved to block CZ from leaving the United States, arguing that the Binance founder could flee, his big fortune could assist him pay out the fine with out acquiring to pay out the fine. his prison sentence.
In file In a message published on November 23, CZ’s attorney rejected the Justice Department’s request, recalling the US court judge’s past determination. Brian Tsuchida to let the former CEO to be launched on bail with a $175 million promise and returned to the United Arab Emirates with his relatives.
“As Judge Tsuchida concluded, primarily based on the record, Mr. Zhao is not a flight chance and has voluntarily appeared ahead of the Court to get accountability. The government’s proposal should be rejected.” – The data plainly indicate.
The legal crew stated CZ has no criminal record and stated his guilty plea demonstrated his intent to cooperate with the court.
As for the sentence, CZ’s legal crew sought a answer other than prison. Instead, they argued that the former CEO could serve half his prison sentence in a non-custodial setting, this kind of as residence arrest or neighborhood quarantine.
The judge is anticipated to make a determination on CZ’s bail request on November 27 (US time). Mr. Changpeng Zhao will have to pay out a fine of $50 million in the plea deal and faces an 18-month prison sentence, with a verdict scheduled for February 23, 2024.
Coinlive compiled
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