Judge says former Binance CEO Changpeng Zhao must stay in US

The news: Former Binance CEO Changpeng Zhao must stay in the US for the time being, a federal judge said on Monday, after the founder pleaded guilty to violating US anti-money laundering laws.

The numbers: Last week, the world's largest crypto exchange agreed to pay over USD4.3 billion ($6.6 billion) and pleaded guilty to breaking U.S. anti-money laundering and sanctions laws. Zhao, who stepped down as CEO following the plea, agreed to a USD175 million bond as part of the bail agreement and faces a maximum prison sentence of 18 months.

The context: A citizen of both Canada and the United Arab Emirates, Zhao has been told he is required to stay in the US until the Seattle court considers whether he should remain until his sentencing hearing on 23 February. District Judge Richard Jones said he would review whether Zhao should have to stay in the US, after the government appealed a previous decision by another judge that allowed Zhao to return to his home in the UAE before the hearing.

What they said: Last week, Zhao said: "I made mistakes, and I must take responsibility."