U.S. Seeks to Detain Former Binance CEO Zhao Until 2024 Sentencing, Citing Flight Risk
• U.S. prosecutors want former Binance CEO Changpeng "CZ" Zhao to remain in the U.S. until his sentencing on February 23, 2024, citing a "substantial risk of flight" • Zhao pleaded guilty to violating the Bank Secrecy Act as part of a settlement with the DOJ related to anti-money laundering and sanctions violations • Zhao stepped down as Binance CEO, is barred from being an executive for 3 years, but remains majority owner • Binance will exit the U.S. market, pay $4.3 billion in penalties, and continue operating globally under new CEO Richard Teng • Prosecutors argue Zhao poses a flight risk due to his wealth, ties outside the U.S., and UAE residence without extradition treaty