Changpeng Zhao wanted to pledge his stake in Binance so that he could return home to the UAE

Last month, a court rejected Binance founder Changpeng Zhao's request to travel to the UAE.

In turn, Chao offered to place his $4.5 billion in Binance shares as collateral for his return to the United States.

Its stock valuation was based on Binance's last funding round, which took place two years ago.

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