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This summary text is fully AI-generated and may therefore contain errors or be incomplete.
The U.S. Department of Justice (DOJ) has filed a motion to prevent former Binance CEO Changpeng ‘CZ’ Zhao from leaving the United States before his sentencing. This comes after Binance and CZ pleaded guilty to charges of Bank Secrecy Act violations and agreed to pay $4.3 billion to settle the lawsuit. CZ was granted permission to return to his UAE residence under a $175 million bond agreement, but the DOJ believes he is a flight risk and may not come back for sentencing. The DOJ argues that CZ’s wealth and connections in the UAE, combined with the possibility of an 18-month prison sentence, increase the risk of him not returning. The final decision is expected by November 27.