On Monday, a judge in Washington changed the bond for the previous CEO of Binance. written by Katherine Ross. March 13, 2024 10:123 am. One of the co-founders of Binance, Changpeng Zhao, pictured at a Sportsfile event, holds a CC license for the photo. Before his sentencing, US District Judge Richard Jones changed the terms of Changpeng Zhao’s bond. Zhao, who used to be the CEO of Binance, a cryptocurrency exchange platform, is a Canadian citizen. The judge ruled that Zhao must give up his Canadian passport to a third-party custodian appointed by his lawyers. He is prohibited from requesting new passports or travel documents as well. According to the filing on Monday, the third-party custodian must have possession of his Canadian passport and go with him on any trips that require identification. Zhao must also stay within the continental US and notify “Pretrial Services” before traveling. Find out more about the terms of Binance and Changpeng Zhao’s plea agreement. Earlier this year, the US government attempted to amend the bond after realizing that the initial conditions were based on the assumption that Zhao would be returning to his primary residence in the United Arab Emirates with his family. Zhao later requested approval to return to the UAE at the end of last year. Nevertheless, a judge ruled that he must remain in the United States, citing the lack of an extradition treaty with the UAE as a factor in the decision. Initially, the former executive’s legal team opposed the government’s request, but prosecutors argued that the requests were reasonable. Zhao’s sentencing, originally scheduled for a previous date, is now set for April 30. Late last year, several US government agencies revealed that they had taken measures against Binance and its former CEO. As part of a settlement with the Department of Justice, Zhao accepted a plea deal and stepped down as the CEO.