Binance Founder Changpeng ‘CZ’ Zhao Isn’t a Flight Risk, His Attorneys Say

The DOJ argued that Zhao could afford to lose the $15 million he put in a trust account and $5 million his guarantors put up. Zhao’s attorneys said this argument ignores the financial commitment he and Binance made. Other DOJ arguments similarly ignore everything Zhao has already done, they said, such as flying to the U.S. to begin with.

“Against the weight of all this information and Judge Tsuchida consideration of it, the government provides no meritorious – or additional – basis to insist that Mr. Zhao remain in the United States away from his family for months between his plea and sentencing,” the filing said.

Zhao’s sentencing is currently scheduled for Feb. 23, 2024. He faces a potential 18-month prison term and agreed to pay a $50 million fine in his plea agreement.

Source: Binance Founder Changpeng ‘CZ’ Zhao Isn’t a Flight Risk, His Attorneys Say