The post Is Binance.US About to Cut Its CEO’s Stake to Win Over Regulators? Find out Here! appeared first on Coinpedia Fintech News
Binance.US, the stateside sibling of the global crypto powerhouse, is reportedly cooking up a plan to dilute the lion’s share of its founder and CEO, Changpeng Zhao. Last year, Binance US raised $200 million from investors like RRE Ventures and Foundation Capital, valuing the company at $4.5 billion before the investment.
According to insider sources, discussions have taken place to find ways to reduce Zhao’s stake, signalling a potential shift in the company’s ownership. So why are they doing this? Let’s explore.
According to The Information, Changpeng Zhao is studying reducing his stake in Binance US in order to improve the company’s image in the eyes of US regulators. He has been trying to sell at least some of his stake since last summer. In 2022, Binance US raised over $200 million in…
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