Bad Decision from the Judge to CZ! Archives - Coin Engineer https://coinengineer.net/blog/tag/bad-decision-from-the-judge-to-cz/ Btc, Coins, Pre-Sale, DeFi, NFT Thu, 12 Jun 2025 09:45:40 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://coinengineer.net/blog/wp-content/uploads/2024/04/cropped-Coin-Engineer-Logo-Favicon-2-32x32.png Bad Decision from the Judge to CZ! Archives - Coin Engineer https://coinengineer.net/blog/tag/bad-decision-from-the-judge-to-cz/ 32 32 Bad Decision from the Judge to CZ! https://coinengineer.net/blog/bad-decision-from-the-judge-to-cz/ https://coinengineer.net/blog/bad-decision-from-the-judge-to-cz/#respond Sat, 30 Dec 2023 12:40:17 +0000 https://coinengineer.io/blog/?p=8977 Seattle’s U.S. District Court Judge Richard A. Jones has denied the request for travel by Changpeng Zhao (CZ), the former CEO of Binance, who is expecting potential penalties in the United States for violating banking laws. Changpeng Zhao had applied for permission to travel, but after the hearing held in Seattle on Friday, Judge Jones

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]]> Seattle’s U.S. District Court Judge Richard A. Jones has denied the request for travel by Changpeng Zhao (CZ), the former CEO of Binance, who is expecting potential penalties in the United States for violating banking laws.
Changpeng Zhao had applied for permission to travel, but after the hearing held in Seattle on Friday, Judge Jones rejected Zhao’s request. The reasons for Zhao’s proposed travel and the destination he intended to visit remain confidential as they were submitted to the court under seal.

Former CEO CZ is currently facing a maximum sentence of 10 years in prison. However, under a plea deal, he is expected to receive no more than 18 months, seemingly protecting him from the harsh sentences faced by other prominent figures in the cryptocurrency industry. The Justice Department has not yet announced the length of the sentence it will recommend.

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A federal judge in Seattle had decided in late November not to allow CZ (Changpeng Zhao) to return to his home in the United Arab Emirates for now. Zhao’s sentencing is scheduled to be announced on February 23rd.

Binance exchange had agreed to a settlement with U.S. authorities, accepting Zhao’s resignation as CEO and agreeing to pay a $4.3 billion fine. Many experts, however, consider this a favorable deal for the company, believing that they have now eliminated the regulatory threat at a relatively low cost.

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