CZ intended to pledge its entire Binance stake to leave the US in January.

A judge rejected Changpeng Zhao’s request to travel to the UAE despite offering billions of dollars in equity as collateral, according to newly released court documents.

Former Binance CEO Changpeng Zhao attempted to pledge billions of dollars in shares of Binance US as collateral so he could temporarily return to the United Arab Emirates, according to newly released court documents.

Court filings on January 24 revealed a letter that Zhao’s lawyers had sealed on December 22 to Judge Richard Jones showing that Zhao had offered a stake in Binance.US. It is valued at $4.5 billion based on two years of financing, according to the letter. before.

Zhao had planned to travel to the UAE for up to four weeks in early January to see friends and family members undergoing surgery and being admitted to hospital, but federal prosecutors did not agree to this request, he wrote in the letter.

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Source: https://cointelegraph.com/news/binance-founder-cz-offered-entire-binance-us-equity-stake-to-leave-us