Ex-Binance CEO Seeks Permission to Depart U.S. Prior to Sentencing for Money Laundering
Former Binance CEO Changpeng Zhao, who pleaded guilty to money laundering charges, is requesting permission from a federal judge to return to his home in the United Arab Emirates before his sentencing. Zhao's lawyers argue that he is not a flight risk and that preventing him from returning to his family in the UAE would be punitive. Binance, the world's largest crypto exchange, recently admitted to failing to prevent money laundering and operating illegally in the US. Zhao faces up to 10 years in prison and the judge is expected to rule on his travel request by Monday.