A judge in the United States has granted former Binance CEO Changpeng Zhao’s request to plead guilty.
Judge Richard Jones in Seattle did not turn down Zhao’s request to plead guilty to violations of money laundering laws.
The decision on Zhao, who pleaded guilty and was released on bail, will be taken on February 23, 2024. Prosecutors requested that Zhao remain in the United States, saying he was a risk of fleeing to the United Arab Emirates.
Under the bail agreement, Zhao on the condition that he returns to the USA two weeks before his sentence. He must be able to return to the United Arab Emirates. However, Judge Jones suspended this clause until he made a decision on the matter.
Zhao pleaded guilty last month to charges that he violated money laundering and sanctions laws. In the case that resulted in Binance reaching a $4.3 billion settlement, Zhao decided to step down as CEO.
The former CEO of Binance also left his role as chairman of the board of directors of Binance.US, the company’s US arm, leaving his role in the management of Binance.US.
Binance’s new CEO after Zhao was Richard Teng. Teng made his first appearance as CEO at a conference in London this week.