TL;DR
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CZ, Ex-CEO of Binance, flew into the US a few weeks ago and plead guilty for 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 wait for his trial, but prosecutors are nervous he won’t come back.
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The US doesn’t have an extradition treaty with the UAE, and all of CZ’s bond agreement funds are in an overseas trust.
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The case will be considered and decided upon by a judge soon.
Full Story
CZ is asking for the equivalent of a bathroom break in the middle of a game of tag with US prosecutors.
What are we talking about?
When playing tag as wee little children we used a “base” – you could touch base and you were safe from the taggers.
Well…growing up, Seb had this one friend who would always go to the base, and then ask for a bathroom break.
She’d go inside and never come back to continue playing.
It was so annoying.
Well…CZ is asking for that bathroom break.
How so?
CZ, Ex-CEO of Binance, flew into the US a few weeks ago and plead guilty for 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 wait for his trial, but prosecutors are nervous he won’t come back.
The judge originally said yes, and now the DOJ is saying:
“Uh, I don’t think so.”
Zhao’s team is saying he’s not a flight risk, nor a threat to the community.
BUT! The US doesn’t have an extradition treaty with the UAE, and all of CZ’s bond agreement funds are in an overseas trust.
We aren’t saying that he’ll be like Seb’s friend and not return…
But such a potentiality needs to be considered by the judge.
