Binance Founder Seeks Permission to Leave U.S. Before Sentencing Amid DOJ Opposition

Binance founder Changpeng Zhao, who pleaded guilty to failure to protect against money laundering, is urging a judge to allow him to leave the U.S. before his sentencing on February 23. The Justice Department has expressed concerns about Zhao being a flight risk, as he is a citizen of Canada and the United Arab Emirates, and the UAE has no extradition treaty with the U.S. Prosecutors warned that if Zhao decides not to return, the U.S. government may be unable to secure his return due to his significant assets. The DOJ has asked a judge to reverse the bail conditions that allow Zhao to leave the country, while his lawyers argue that he voluntarily came to the U.S. to accept responsibility for his actions. Meanwhile, Binance has announced that Richard Teng will replace Zhao as CEO.