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CZ Once Offered to Use $4.5 Billion in Binance Equity As Travel Guarantee

Mary Liu

Summary: Last month, a federal judge rejected a travel permit application from Binance founder CZ(Changpeng Zhao), who wanted to travel to his home in the United Arab Emirates to attend to a relative's "hospitalization and surgery."  A new court filing reveals that a judge rejected his request despite CZ offering to use his Binance stake as ...

Last month, a federal judge rejected a travel permit application from Binance founder CZ(Changpeng Zhao), who wanted to travel to his home in the United Arab Emirates to attend to a relative's "hospitalization and surgery." 

A new court filing reveals that a judge rejected his request despite CZ offering to use his Binance stake as security for his return to the United States. 

The document also shows that CZ’s lawyers pointed out in a letter to Judge Richard Jones on December 22, 2023, that based on Binance’s last round of financing two years ago, the value of the equity proposed as security was as high as $4.5 billion. Court records show Jones held a closed hearing on the request on December 29 and denied Changpeng Zhao's travel request.

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