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Fortune

Steve Mollman

Binance founder Changpeng Zhao urges judge to let him leave the U.S. before sentencing—after the DOJ scrambles to stop him

Changpeng Zhao Binance DOJ United States Richard Jones Richard Teng UAE Crypto the Justice Department

(Credit: Chloe Collyer/Bloomberg via Getty Images)

The lawyers for former Binance CEO Changpeng Zhao insist the crypto billionaire is not a flight risk. The Justice Department isn’t so sure.

On Tuesday, the U.S. government announced criminal charges against Binance and its leader. The world’s biggest cryptocurrency exchange agreed to pay $4.3 billion in penalties, among the largest fines in corporate history. It also pleaded guilty to anti-money laundering and U.S. sanctions violations. But it avoided a death sentence and will be allowed to continue operating.

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