Binance's Former CEO Faces Travel Limits and Passport Confiscation Amid Legal Battle
Ex-Binance CEO's passport seized must stay in the U.S. awaiting trial
Changpeng Zhao, formerly leading Binance, must now relinquish his Canadian passport and stay within the US, as demanded by a court's updated bail terms. This change aims to ensure Zhao stays in the country while he awaits sentencing for violating financial secrecy laws.
A U.S. judge, Richard Jones, has decided that a trusted third party will hold Zhao's passport, accompanying him for any essential travel within the U.S. Zhao is barred from obtaining new travel documents or passports without explicit court permission, following concerns from prosecutors about him possibly fleeing the country.
Despite attempts by Zhao's lawyers to negotiate terms that would permit international travel, the judge has confined Zhao to the US, requiring him to notify authorities of any domestic travel plans. Zhao, who also has citizenship in the United Arab Emirates, resigned from his CEO position at Binance in November after admitting guilt. The company fac
