Kenne Michael 
Changpeng “CZ” Zhao, the founder of Binance, will remit a $175 million release bond and consent for return to the United States 14 days before his sentencing on February 23, 2024; this may enable him to return to Dubai.
Zhao stipulated in a bond document dated November 21 and lodged in a federal court in Seattle that he would disclose his place of residence to the court and that his absence from his scheduled court date could result in the issuance of an arrest warrant.
One potential consequence of non-appearance is a ten-year prison sentence and a fine of $250,000.
Zhao agreed to forfeit the $15 million he deposited into a trust account in addition to his surety if he neglected to comply with the stipulations of his bond.
In addition, two guarantors are listed, each promising to post $250,000 and $100,000.
Zhao pleaded guilty to an 18-month Bank Secrecy Act violation, but The New York Times reported on November 21 that prosecutors are considering imposing a more severe sentence.
Expectedly, the United States will examine Zhao’s bail order. Should a judge decline to review the order, it will enter into force on November 27, 5:00 pm Washington time.
Zhao must remain in the United States until a decision is rendered if the judge grants a review before that date.
Although there is no extradition agreement between the United States and the United Arab Emirates, the two nations reached a bilateral agreement on February 24 to strengthen law enforcement cooperation.
Meanwhile, Zhao has resided in Dubai for several years.
In accordance with a $4.3 billion settlement between the cryptocurrency exchange and the United States, Zhao resigned as CEO of Binance and paid a $50 million fine.
