In a dramatic turn of events, US prosecutors are urging a federal judge to prevent Binance CEO Changpeng Zhao, commonly known as CZ, from leaving the United States until his sentencing on February 23, 2024. This move comes after CZ's recent $4.3 billion settlement with the US Department of Justice (DoJ) and other regulatory bodies.

The US Justice Department has recommended a mandate to keep Zhao within US borders, emphasizing concerns about his substantial connections and preferred status in the UAE. This follows CZ's guilty plea for violating US money laundering laws.

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CZ's Legal Odyssey

Following the landmark settlement, CZ was released on a $175 million personal recognizance bond. 

As part of his release conditions, CZ has placed $15 million in a trust account managed by Davis Wright Tremaine, separate from the bond. He has committed to forfeit these funds if he violates any release conditions. Additionally, CZ has obtained two guarantors pledging $250,000 and $100,000, respectively.

However, the prosecutors argue that there's no guarantee of his return if he leaves the US before sentencing. They have requested the judge to enforce restrictions, disallowing CZ from returning to his residence in the United Arab Emirates (UAE) until after the sentencing hearing. 

While CZ is currently permitted to stay in the Seattle area until at least November 27, the situation could take a different turn if District Judge Richard Jones considers the DOJ filing by February 10. If he decides against it, CZ would need to return to the US by that date.