A US federal judge has rejected a request by Changpeng “CZ” Zhao, the founder and former CEO of Binance, to travel to the United Arab Emirates. Despite offering to post $4.5 billion of his Binance US equity as assurance that he would return, Zhao was denied permission to go to Abu Dhabi to be present for the hospitalization and surgery of an unnamed associate. Prosecutors argued that Zhao posed a flight risk given his substantial wealth abroad and his minimal ties to the United States. Binance has faced warnings and enforcement actions by regulators across the globe over compliance with anti-money laundering laws.
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US Judge Denies Binance Founder CZ's Request to Travel to UAE Despite Offering $4.5 Billion in Equity as Assurance
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