FILE – The Binance app icon is seen on a smartphone, Feb. 28, 2023, in Marple Township, Pa. (AP Photo/Matt Slocum, File)
Changpeng Zhao, the founder and former CEO of cryptocurrency exchange Binance, has asked the judge to allow him to leave the United States.
Zhao’s lawyers are urging U.S. District Judge Richard Jones in Seattle to reject the Justice Department’s (DOJ) request to bar him from returning home to the United Arab Emirates until he is sentenced.
The crypto founder stepped down from his position after being charged for failing to prevent money laundering on his company’s platform.
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In a filing Thursday, lawyers said Zhao voluntarily flew to the U.S. to appear before a court on Nov. 21 and has “accepted responsibility, and pleaded guilty.”
Binance is the world’s largest cryptocurrency exchange platform. The company pleaded guilty to violating the Bank Security Act, anti-money laundering act and other charges.
The crypto platform agreed to pay more than $4 billion, one of the largest corporate penalties in U.S. history.
His lawyers are asking for Zhao to be able to return home to his partner and their three young children while sentencing is pending.
U.S. Magistrate Judge Brian Tsuchida originally made the decision to allow him to return home ahead of the Feb. 23 sentencing, but the DOJ pushed Jones to reverse the decision.
Zhao’s team argues that the government has proven Zhao is not a danger to the community and is not a flight risk since he voluntarily arrived in the U.S. this week.
“The only question is whether Mr. Zhao should be allowed to return to his family in the UAE pending sentencing,” the filing states.
Zhao’s public status proves that he can’t escape his fate, his lawyers said.
“Binance.com is the largest cryptocurrency platform by volume of trades in the world and Mr. Zhao is its recognizable founder,” the filing reads. “That global spotlight makes evasion of the U.S. justice system impossible.”
Zhao has agreed to pay a $150 million penalty to the U.S. Commodity Futures Trading Commission. Prosecutors said he faces up to 18 months in prison.
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