Binance’s Zhao Shouldn’t Be Allowed to Travel to UAE, US Says

US prosecutors asked a court to reverse its decision allowing Binance Holdings Ltd.’s Changpeng Zhao to travel to his home in the United Arab Emirates after pleading guilty this week in a felony criminal case.

Over the government’s objection, a US magistrate judge on Tuesday granted the multi-billionaire’s request to return to the UAE before his February sentencing. The founder of the world’s largest crypto exchange agreed to post a bond of $175 million, secured by $15 million in cash held in trust and three responsible persons who pledged property or cash.

Changpeng Zhao exits federal court in Seattle, Washington, US, on Nov. 21.

Photographer: Chloe Collyer/Bloomberg

In a court filing Wednesday, Justice ...