CZ released on $175M bond, could return to Dubai

Binance founder Changpeng “CZ” Zhao posted a $175 million bond with a condition he returns to the U.S. two weeks before his sentencing.

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

In a Nov. 21 bond document filed in a Seattle federal court, 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 show up for his court date.

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

The U.S. is expected to review Zhao’s bail order. If a judge denies review of the order, it will become effective on Nov. 27 at 5 pm Washington time. If the judge grants a review before that date, Zhao must stay in the U.S. until a decision is made.