Coinspeaker
Changpeng Zhao Steps Down as Chairman of Binance.US
In a significant development on Tuesday, November 28, Changpeng Zhao (CZ), the founder and former CEO of Binance, has decided to step down as chairman of the board for Binance’s US affiliate.
Binance.US made this announcement through a tweet, clarifying that the US affiliate was not part of the recent substantial multibillion-dollar settlement between Binance and various US regulators and law enforcement entities. As part of this move, Zhao will transfer his voting rights to a proxy. In their announcement, Binance.US stated that it remains fully operational. The official tweet announcement reads:
“Binance.US is not a party to the settlements announced last week, nor do we have any outstanding enforcement matters with the DOJ, FinCEN, OFAC, or CFTC. Binance.US continues to be led by Norman Reed and our existing, experienced management team. We are well capitalized to continue to build and grow our platform a
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