According to CNBC, new court documents reveal that Binance founder CZ proposed to use $4.5 billion worth of Binance equity as collateral to return to the U.S. but was rejected by a judge.
In a letter to Judge Richard Jones dated December 22, CZ's lawyers stated that the valuation of CZ's shares was based on Binance's last funding round two years ago.
Earlier, a federal judge had rejected CZ's request to travel to the United Arab Emirates for important personal matters related to hospitalization and surgery in December 2023.