Ex-Binance CEO’s passport confiscated ahead of sentencing

Changpeng Zhao, former chief executive officer of Binance, has been ordered to “surrender” his Canadian passport and remain within the continental United States as part of a revised bail agreement, according to court documents filed on Monday.

U.S. District Judge Richard Jones mandated that Zhao’s passport be held by a third-party custodian who must accompany him on any necessary travel.

Zhao, who is awaiting sentencing for violating the Bank Secrecy Act, is prohibited from applying for new passports or travel documents without court approval.

The updated bail conditions come after the U.S. State Attorney’s Office requested additional travel restrictions last month, citing concerns over Zhao’s potential flight risk.

Zhao’s legal team initially resisted the government’s request, seeking alternatives that would allow him to travel abroad.

However, the judge has now ruled that Zhao must inform pretrial services of any domestic travel plans and cannot leave the country.

Zhao also holds citizenship in the United Arab Emirates.

In November, Zhao resigned from his position as the chief of the world’s largest cryptocurrency exchange after pleading guilty to charges. The exchange has agreed to pay US$4.3 billion in fines.

Zhao’s sentencing is scheduled for April 30.