Changpeng Zhao, who was previously praised as the founder of the cryptocurrency exchange Binance, is now confined to the United States. Legal action has been taken to prevent the Binance founder from traveling by revoking his travel privileges and requiring him to surrender his passport. Legal representation will designate someone to handle the necessary paperwork and accompany him on trips that require a passport. This development has occurred as the founder, known as CZ, faces the possibility of significant financial penalties and imprisonment in light of multimillion-dollar settlements in the industry. This news follows a recent verdict in which the founder of a crypto mixing service was found guilty of laundering $400 million in a dark web drug trade. Changpeng Zhao: A declining figure in the world of cryptocurrency. A few months ago, CZ was praised as an innovative leader, guiding Binance to become the top global platform for exchanging digital assets. Yet, a year-long probe conducted by the US Department of Justice revealed a contrasting story. In November 2023, CZ confessed to breaking the Bank Secrecy Act, a law aimed at preventing money laundering. This acknowledgment was a major downfall for the prominent figure in the cryptocurrency world, damaging Binance’s reputation and leading to a $4.3 billion agreement with the authorities. This incident has left Binance’s future uncertain. The severity of the charges against Changpeng Zhao is evident in the recent court order. He is now required to get approval for any travel within the United States and must have a court-appointed custodian with him for international trips where a passport is needed.