
KEY POINTS
- CZ stepped down as Binance CEO as part of his settlement agreement with the DOJ
- He was released on a $175M bond and allowed to return to his UAE residence
- However, the DOJ thought he might not return to the U.S. if allowed to leave
Binance founder Changpeng Zhao is under fire. Apart from having his X account momentarily restricted following his resignation announcement, U.S. prosecutors filed a motion to prevent him from leaving the country.