<p>Former Binance CEO, Changpeng Zhao (CZ), facing criminal charges and awaiting sentencing in the United States, has been denied his request to return to the United Arab Emirates (UAE) by a U.S. federal judge, according to Bloomberg.</p><p>The <a href="https://www.bloomberg.com/news/articles/2023-12-29/binance-s-zhao-again-blocked-from-traveling-by-us-judge" rel="noopener noreferrer nofollow">decision</a>, rendered by the U.S. District Judge Richard Jones, reinforces the restrictions on CZ&#39;s movements in the months leading up to his scheduled February sentencing. In a filing on Friday, Judge Jones rejected CZ&#39;s motion seeking permission to travel to the UAE, where his children reside with former talk-show host and Binance co-founder, Yi He.</p><p>The specific grounds for the denial were sealed, providing limited insight into CZ&#39;s argument against the judge&#39;s repeated constraints. However, CZ&#39;s legal team hinted that the motion involved &#34;medical information regarding Mr. Zhao’s child.&#34;</p><h2 id="header-0"><strong>Second travel request denial</strong></h2><p>This ruling, dated Dec. 29, marks the second time CZ&#39;s request to travel to the UAE has been turned down. Earlier in the month, Judge Jones sided with U.S. prosecutors, citing CZ&#39;s substantial wealth abroad and the absence of an extradition treaty between the U.S. and the UAE, making him a potential flight risk.</p><p>CZ had previously pleaded guilty to violating the Bank Secrecy Act and resigned as CEO of Binance, the world&#39;s largest digital asset exchange. Binance, as an entity, reached a $4.3 billion settlement related to sanctions and money transmission violations. Singaporean Richard Teng, Binance’s former head of regional markets, has been <a href="https://coinnesslive.page.link/1f9vH9rrnjALN8M99" rel="noopener noreferrer nofollow">installed</a> as CEO in CZ’s place.</p><p>Despite legal challenges, Zhao secured release on a $175 million personal recognizance bond after pleading guilty. The billionaire posted $15 million from a trust account and had three guarantors pledge over $5 million in collateral to secure the bond. The court order allows CZ to remain free, but he is prohibited from leaving the U.S. until his sentencing.</p><h2 id="header-1"><strong>40 million new users</strong></h2><p>It’s not all bad news for Zhao’s Binance. In a recent <a href="https://public.bnbstatic.com/reports/2023_EOY_Report.pdf" rel="noopener noreferrer nofollow">report</a> titled &#34;State of The Blockchain: Binance’s 2023 in Review,&#34; Binance highlighted its significant growth in 2023, welcoming over 40 million new users — a 30% increase from the previous year. The report emphasizes the company&#39;s commitment to user-centric principles, boasting 170 million registered users and 431 assets available for trading across 1,785 trading pairs by the year&#39;s end.</p><p>Key achievements outlined in the report include robust growth in crypto payment services, P2P trading and earning platforms. Binance Pay and Card experienced a 54% surge in users and the P2P platform recorded an 18% increase in trades and a 39% rise in users.</p><p>Binance Earn, a crucial component of Binance&#39;s product suite, saw a 35% increase in users and a 16.8% rise in the total value locked within its products.</p><h2 id="header-2"><strong>Higher net worth</strong></h2><p>2023 hasn’t been all bad for CZ on a personal basis either. His wealth has seen a substantial increase of approximately $25 billion in 2023 despite the legal turmoil. His $37 billion net worth primarily stems from his controlling stake in Binance.</p><p>Despite potential imprisonment, CZ stands atop the list of cryptocurrency entrepreneurs whose fortunes have witnessed substantial growth this year, ranking 35th in the Bloomberg Billionaires Index.</p>

Changpeng Zhao denied second request to travel to UAE before sentencing

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