U.S. Judge Denies Binance's CZ Travel Permission Again

• Binance Founder's Request to Travel Abroad Denied by Federal Judge
• Sealed Ruling Details
• Former Binance CEO's Plea
• Binance's Ability to Survive Major Financial Setbacks

Binance Founder's Request to Travel Abroad Denied by Federal Judge

Changpeng CZ Zhao, the founder of Binance, had his request to travel abroad denied once more by a federal judge on Friday. This comes as he awaits his sentencing for criminal charges in the U.S. The ruling was handed down by Judge Richard Jones of the U.S. District Court for the Western District of Washington, marking the second denial of Zhao's attempt to travel abroad since prosecutors deemed him a potential flight risk.

Sealed Ruling Details

The sealed ruling, which was filed on Friday, did not expose the specifics of Zhao's argument against the court's continuous efforts to prevent his return to the UAE. This is where his three children and their mother are currently residing.

Former Binance CEO's Plea

Zhao, who was previously the CEO of Binance, pleaded guilty to a singular charge of violating the Bank Secrecy Act last month. After this, he was released on a $175 million personal recognizance bond, along with other financial conditions.

Binance's Ability to Survive Major Financial Setbacks

As one of the largest cryptocurrency exchanges in the world, the question of Binance's ability to weather a hefty $4.3 billion fine and the ousting of founder CZ continues to be a topic of discussion.

Edited by Jonathan Stoker