Amid the volatile period in the cryptocurrency markets, a notable detail was the presence of former Binance CEO CZ in the United States. After traveling from the United Arab Emirates to the US for court, details of the agreement were disclosed by two ministers and other officials hours after CZ’s court appearance. Now, a new decision has emerged.
On November 23rd, US prosecutors requested that CZ should not leave the country until the conclusion of the case. The Justice Department indicated that CZ would be allowed to leave the country no earlier than Monday. In court, CZ expressed his intention to leave the country, showing good faith and a desire to make a fresh start. According to a Reuters report, the judge made a decision, and CZ will have to stay away from his main residence for a while.
This distressing situation for the former Binance CEO arose due to prosecutors’ concerns about the risk of flight. If CZ does not return to his country by February 24th, as per his statement in court, the situation could become even more problematic. According to former SEC official John Stark, despite the agreement, the charges are serious and CZ could still face penalties.
Until the hearing on February 24th, the former Binance CEO will stay at the previously reported address in Seattle.
