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INTERNATIONAL BUSINESS TIMES NEWSLETTER SIGNUP My account Log Out Dec 29, 4:40 AM EST World U.S. Economy & Markets Companies Technology Digital Life Culture Sports Crypto Opinion NEWSLETTER My account Log Out US Edition World U.S. Economy & Markets Companies Technology Digital Life Culture Sports Crypto Opinion Listings & More Spotlight Glossary SMB Forum Glossary K-Wave CEO Spotlight Editions Australia Edition India Edition International Edition Singapore Edition United Kingdom United States NEWSLETTER Follow Us Editions Australia Edition India Edition International Edition Singapore Edition United Kingdom United States Crypto Crypto Business Binance's CZ Urges Court To Seal Parts Of His Travel Request For Child's Privacy By Nica Osorio @nicaIBTimes 12/29/23 AT 4:38 AM EST Share on Facebook Share on Twitter Share on LinkedIn Share on Reddit Share on Flipboard Share on Pocket Reuters Changpeng Zhao (CZ), the founder and former CEO of Binance, requested the United States District Court earlier this week to seal parts of his travel request, citing his child's privacy. The court initially allowed Zhao to return to his home in the United Arab Emirates and go back to the U.S. a few weeks before his sentencing in February. However, following the motion filed by the U.S. Department of Justice, the judge decided to stay his ruling on Zhao's travel permission, leaving the crypto mogul stuck in the U.S. Zhao had asked the court for travel permission in the past, but his latest appeal provided more context on his requests. On Wednesday, Zhao expressed his intent to safeguard his child's privacy by appealing to the court to seal confidential information and prevent it from public exposure. "DEFENDANT CHANGPENG ZHAO moves the Court for an order sealing Defendant's 16| Motion to Seal Submission for Permission to Travel, the Submission to Travel and the Proposed Order related to Motion to Seal Submission for Permission to Travel. The Morion, Submission Order should be scaled because they contain sensitive private medical information regarding Mr. Zhao's child," Zhao's legal team said in the court filing. On Nov. 21, Zhao pleaded guilty to one charge of violating the Bank Secrecy Act and was released on a $175 million personal recognizance bond, with some cash on escrow and guarantors putting up 5 million worth of assets as collateral. The act was part of the historic settlement deal, which included Zhao stepping down from his post as the CEO of Binance. A U.S. court entered an order against Binance and Zhao that would see both pay $2.7 billion and $150 million, respectively, as part of the settlement agreement with the Commodity Futures Trading Commission (CFTC), ending its years-long enforcement action against the exchange and its founder. "U.S. District Court for the Northern District of Illinois has approved the previously announced settlement and entered a consent order of permanent injunction, civil monetary penalty and equitable relief against Changpeng Zhao and his companies Binance Holdings Limited, Binance Holdings (IE) Limited and Binance (Services) Holdings Limited (together, Binance)," CFTC said in a press release earlier this month. The 46-year-old billionaire, who founded Binance in 2017, currently occupies the 35th spot on the list of billionaires in the world with a net worth of $37.2 billion, which is $24.6 billion higher than his net worth year-to-date (YTD). Read more Coinbase Founders, Top Execs Lead COIN Shares Sell Off Ahead Of Spot Bitcoin ETF Deadline Binance Founder CZ Still A Billionaire Despite Legal Woes, Ends 2023 Nearly $25B Richer Do Kwon, Terraform Labs Win In Court But SEC Secures Victory In Securities Ruling © Copyright IBTimes 2023. All rights reserved. Join the Discussion MOST READ IN Crypto 1 Shibarium Nears 200M Total Transactions; Analyst Reveals How Shiba Inu's L2 Can Send SHIB Price Surging 2 Solana Flips Bitcoin, Ethereum In Weekend Trading Volume, As Price Rally Continues 3 Barry Silbert Steps Down As Grayscale Investments' Chairman Of The Board 4 Tether Mints 'Authorized But Not Issued' $1B USDT To Replenish Inventory 5 Shytoshi Kusama Teases Shib Army, Spills Plan For Doge-Killer LEASH NEWS World U.S. Economy & Markets Companies Technology Digital Life Culture Sports Opinion Featured Social Capital Glossary SMB Forum Spotlight Crypto K-Wave CEO Spotlight ABOUT About Us Contact us Advertise with us Terms & Conditions Privacy Policy Cookie Policy Editions United States Australia Brazil Colombia France Germany Indonesia India International Italy Editions Japan Nigeria Singapore South Africa South Korea Spain Mexico United Kingdom FOLLOW US Facebook Twitter LinkedIn Newsletter © Copyright 2023 IBTimes LLC. All Rights Reserved.
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