The CEO of Binance, Changpeng Zhao, has been notified of a modification to his bail terms that now require him to surrender his passport to the authorities. CZ had previously posted bail of $175 million and was allowed to remain out of custody until sentencing.
However, prosecutors are now requesting that he be restricted from leaving the United States in case he tries to flee.
Under the new terms, CZ must surrender his Canadian passport and any other travel documents to his designated representative, who must accompany him on all trips.
He is also prohibited from creating any new travel documents without permission from the court.
CZ’s sentencing on money laundering charges has been postponed until April 30, with no explanation for the delay given.
