TL; DR
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CZ, ex-CEO of Binance, flew to the US a few weeks ago and pleaded guilty to failing to prevent money laundering on his company’s platform.
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There is a waiting period before he is tried in February, so CZ asked to go home to the UAE to await his trial, but prosecutors fear he will not return.
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The US has no extradition treaty with the UAE, and all funds from CZ’s bond deal are in a foreign trust.
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The case will soon be heard and decided by a judge.
Full story
CZ asks for the equivalent of a bathroom break during a game of tag with US prosecutors.
What are we talking about?
When we played tag as little kids, we used a “base” – you could touch the base and you were safe from the taggers.
Well… growing up, Seb had a friend who would always go to base and ask for a bathroom break.
She went inside and never came back to play again.
It was so annoying.
Well…CZ asks for that bathroom break.
How come?
CZ, ex-CEO of Binance, flew to the US a few weeks ago and pleaded guilty to failing to prevent money laundering on his company’s platform.
Now there is a waiting period before he is tried in February.
So CZ asked to go home to the UAE to await his trial, but prosecutors are afraid he won’t come back.
The judge originally said yes, and now the DOJ says:
“Um, I don’t think so.”
Zhao’s team says he is not a flight risk or a threat to the community.
BUT! The US has no extradition treaty with the UAE, and all funds from CZ’s bond deal are in a foreign trust.
We’re not saying he’ll be like Seb’s friend and not return…
But such a possibility must be considered by the judge.