Newly unsealed court documents show a judge shot down Changpeng Zhao’s request to travel to the UAE despite offering his multibillion-dollar stake as security.
Former Binance CEO Changpeng Zhao tried to pledge his multibillion-dollar stake in Binance.US as security to be permitted to travel back to the United Arab Emirates temporarily, according to a newly unsealed court filing.
The Jan. 24 court filing unveiled a previously sealed Dec. 22 letter to Judge Richard Jones from Zhao’s lawyers showing Zhao offered up his equity in Binance.US, which, according to the letter, was worth $4.5 billion based on a funding round two years ago.
Zhao had hoped to travel to the UAE for up to four weeks in early January to see a friend or family member undergoing surgery and staying in hospital, but the letter noted federal prosecutors did not consent to the request.
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Source: https://cointelegraph.com/news/binance-founder-cz-offered-entire-binance-us-equity-stake-to-leave-us