Africa-Press – Eritrea. A US federal judge last month refused Binance’s former CEO to travel abroad for a scheduled medical procedure, according to court documents that were made public.
Changpeng Zhao, then-CEO of the world’s biggest cryptocurrency platform, agreed in November to pay a $50 million fine and step down at the company as part of a $4.3 billion settlement, amid a lawsuit by the US Securities and Exchange Commission.
His lawyers asked Judge Richard A. Jones from the US District Court Western District of Washington on Dec. 22 for Zhao to travel to the United Arab Emirates on Jan. 4 for one to four weeks for his hospitalization and surgery, which was redacted Wednesday in court filings.
“Mr. Zhao is prepared to provide significant additional property and financial security to assure his timely return, including pledging all of his equity in Binance US, which was worth $4.5 billion in the last round of fundraising 2 years ago,” his lawyers added.
Zhao is expected to be sentenced Feb. 23 while he is on a $175 million release bond.
Jones held a closed hearing Dec. 29 and denied Zhao’s request, according to court documents.
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