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Fortune

Jeff John Roberts

Binance founder Changpeng Zhao must stay in the U.S. for sentencing, judge rules

Changpeng Zhao Binance Richard Jones United States CZ UAE Seattle the Justice Department

(Credit: Zed Jameson—Bloomberg via Getty Images)

A federal judge in Seattle ruled on Thursday that the founder and former CEO of Binance, who's awaiting sentencing after pleading guilty to money laundering charges, must remain in the country.

The order came after the Justice Department appealed a magistrate judge's earlier ruling that Changpeng Zhao—known as "CZ" in the crypto world—could return to the United Arab Emirates pending his sentencing hearing scheduled for February.

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