Changpeng Zhao, the founder of Binance, is barred from traveling to the UAE and must remain in the US until his sentencing in February 2024. This follows his guilty plea to charges related to breaching the Bank Secrecy Act. Zhao was granted temporary freedom on a $175 million personal recognizance bond. The decision to restrict his travel was influenced by his substantial wealth, his family's residence in the UAE, and the lack of substantial ties to the US, despite the absence of an extradition agreement between the US and UAE. Binance has agreed to a $4.3 billion fine for anti-money laundering and money transmission regulation violations, and Zhao has stepped down from his role at Binance. Bitcoin is currently trading at $43,521, down 1.02%.