A surprising detail during the tumultuous deal in the crypto markets was CZ being in the U.S. The former Binance CEO had traveled from the United Arab Emirates to the U.S. for the court and hours later, two Ministers (and other officials) revealed the details of the agreement. Now, a new decision has emerged.
Binance Case Update
On November 23, U.S. prosecutors demanded that CZ not leave the country until the case was concluded. The Department of Justice stated he could leave the country no earlier than Monday. In the court, CZ expressed his intention to leave, demonstrating good faith and a desire to start anew. According to a Reuters report, the judge has made a decision, and CZ will have to stay away from his primary residence for an extended period.
This frustrating situation for the former Binance CEO was the result of the prosecutors’ pressure due to suspicions of flight risk. If CZ does not return to his country by February 24, it will become more troublesome for him (according to his statements in court). Former SEC official John Stark claims that despite the settlement, the charges are serious and CZ might still face penalties.
Until the hearing scheduled for February 24, the former Binance CEO will stay at the address he previously reported in Seattle.
- CZ’s U.S. court presence shocks crypto markets.
- Prosecutors exert flight risk pressure on former Binance CEO.
- CZ to remain in Seattle until February 24 hearing.