Binance Founder Zhao Defies US Government's Flight Risk Accusations

Former CEO of crypto exchange Binance BNB/USD Changpeng Zhao is contesting the U.S. government's attempt to modify his bail terms.

In a fresh legal document, he challenged the notion that he poses a flight risk, despite holding citizenship in two other countries, including the United Arab Emirates (UAE).

Prosecutors recently argued that Zhao, who admitted guilt to charges related to inadequate anti-money laundering measures at Binance, presents a significant risk of fleeing and should be restricted from leaving the U.S.

Also Read: EXCLUSIVE: Changpeng Zhao's Exit, Binance's $4B Fine — A Wake-Up Call For Crypto, Or A Death Knell For The Industry?

Initially, Zhao managed to persuade the judge to rule in his favor. However, he is now responding to the government's request for a reassessment of his release conditions.

He maintains that his guilty plea and lack of previous criminal history negate the flight risk concerns.

The court filing asserts that Judge Brian Tsuchida's decision was accurate and well-supported by evidence, arguing that Zhao does not pose a flight risk for several reasons: firstly, his behavior demonstrates a willingness to fully acknowledge his actions and abide by the court's decision; secondly, as a well-known individual with no prior criminal record who has admitted to a non-violent, non-fraudulent offense, he doesn't pose a threat.

Also, his UAE citizenship does not inherently imply a likelihood of fleeing; and the guidelines applicable in this case do not encourage flight.

The document also notes that the stringent and comprehensive bail conditions set by Judge Tsuchida are sufficient to ensure Zhao's compliance with court requirements.

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