The U.S. Department of Justice (DOJ) has labeled Changpeng Zhao, the former CEO of Binance, as a “manageable flight risk.” This designation comes as Zhao, who On Tuesday, Zhao pleaded guilty for breaking anti-money laundering laws in the U.S. and stepped down as Binance's CEO. The exchange, meanwhile, pleading guilty to failing to maintain an effective anti-money laundering program, cited US attorneys. Changpeng Zhao, the former CEO of crypto exchange Binance, could face a decade behind bars.

Discovery materials provided Binance co-founder and former CEO Changpeng Zhao is an “unacceptable risk of flight,” said the DoJ in a filing. The prosecutors seek to keep CZ in the US until his sentencing hearing. This revelation comes after the US Department of Justice’s (DOJ) recent actions against Binance. In a shocking announcement earlier this week, Changpeng Zhao announced that he was stepping down as CEO of Binance. The move came after it was revealed that Binance is facing a $4.3 billion fine.

The DOJ's stance on whether ex-Binance CEO Changpeng Zhao is a flight risk is crucial to understanding the potential implications of his plea deal and the future of Binance. Binance’s former CEO Changpeng Zhao pled guilty to failing to maintain an effective anti-money laundering program. The question now remains: will CZ remain in the United States until his sentencing?