Home CryptocurrencyAltcoin CZ released on $175 million bail, could return to Dubai

CZ released on $175 million bail, could return to Dubai

by SuperiorInvest

Binance founder Changpeng “CZ” Zhao will post a $175 million release bond and agree to return to the United States 14 days before his sentencing on February 23, 2024, possibly allowing him to return to Dubai.

In a Nov. 21 bail document filed in federal court in Seattle, Zhao agreed to share with the court where he would reside and that a warrant could be issued for his arrest if he fails to appear for his court date.

Failure to appear in court carries a fine of $250,000 and a maximum of 10 years in prison.

Appearance bond for Changpeng Zhao filed by the United States in a Washington district court

The United States is expected to review Zhao’s bail order. If a judge denies review of the order, it will take effect on November 27 at 5 pm Washington time. If the judge grants a review before that date, Zhao will have to remain in the United States until a decision is made.

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