CZ tried to pledge his entire Binance.US stake to leave US last month
Newly unsealed court documents show a judge shot down Changpeng Zhao’s request to travel to the UAE despite offering his multibillion-dollar stake as security.
Former Binance CEO Changpeng Zhao tried to pledge his multibillion-dollar stake in Binance.US as security to be permitted to travel back to the United Arab Emirates temporarily, according to a newly unsealed court filing.
The Jan. 24 court filing unveiled a previously sealed Dec. 22 letter to Judge Richard Jones from Zhao’s lawyers showing Zhao offered up his equity in Binance.US, which, according to the letter, was worth $4.5 billion based on a funding round two years ago.
Court records show Judge Jones denied the request in a Dec. 29 closed-door hearing.
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