Changpeng Zhao Steps Down as Chairman of Binance.US Following Settlement
Summary:
Former Binance CEO Changpeng “CZ” Zhao is stepping down as Chairman of Binance.US, a US-specific crypto exchange. Binance.US clarified they were unrelated to the $4.3 billion settlement achieved between Binance, CZ, and US administrators. While resigning, Zhao will also end his governing role in Binance.US and transfer his voting rights. The exchange will continue under the leadership of Norman Reed and their existing management team.
Changpeng “CZ” Zhao, previous Chief Executive Officer of renowned crypto trading platform Binance, is also stepping down from his role as the Chairman of the Board at Binance.US, a United States-compatible exchange. This information was rendered on November 28 in a post on the ex-Twitter platform, now known as X, where Binance.US clarified that they were not involved in the recently reported $4.3 billion settlement achieved between Binance, CZ, and US administrators on November 21. Despite this, Zhao agreed to surrender his chairmanship role while also putting an end to his governing part in Binance.US, transferring his voting privileges through a proxy agent. The exchange expressed considerable gratitude to CZ for his valuable guidance over the years and confirmed that under the leadership of Norman Reed along with their experienced management squad, Binance.US will persist its operation. They are determined to keep serving their US customers according to all regulations. This news is still evolving and will be augmented with subsequent information as and when it becomes available.
Published At
11/28/2023 4:29:04 PM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.