Amidst his legal worries, Binance founder and former chief executive officer Changpeng Zhao continues to maintain his presence on social media platforms, having recently posted about his resignation from the exchange.
Earlier today, blockchain news platform Watcher.Guru reported that a U.S. Judge forbade Zhao from leaving the U.S. before sentencing. However, Calvin Cheng, Serbia’s consul to Singapore, replied that, on the contrary, the judge stayed the ruling pending a full hearing.
In response to Cheng’s post, Zhao posted an emoji that shows appreciation alongside the number 4, which he commonly uses to denote fake news, FUDs, and attacks.
As earlier reported, a recent filing showed the former CEO risks up to 10 years in prison following his guilty plea. While the prosecutors confirmed that Zhao voluntarily appeared in the U.S. to face justice, they argued he should remain in the country till his sentencing.
However, the court decided otherwise, saying, “Mr. Zhao presented no flight risk.” Earlier last week, the court approved his request to return to his home in the UAE pending his sentencing, which is set for February 2024.
Last week, Zhao pleaded guilty to anti-money laundering law violations in an event that shook the crypto community. Since then, the founder has been the subject of rising speculations from experts and crypto community members.
Former SEC officials such as John Reed Stark equated Zhao’s alleged crimes while still serving as Binance CEO as “tantamount to mass murder and mayhem.” According to him, the founder allowed a range of illicit actors to operate freely on Binance – the world’s largest crypto exchange.
However, crypto community members disagreed with Stark’s comments on the ongoing case. They argued that Zhao’s actions are not the first seen in the U.S., considering that “big bank executives” have faced similar actions, but added that the Department of Justice, in those instances, failed to go after them.
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