CZ Officially Leaving Binance.US!

CZ Officially Leaving Binance.US!We all know him as CZ, Changpeng Zhao is leaving his position as chairman of Binance.US. The former CEO of Binance is now facing a serious crime in the United States as part of a settlement with local authorities and regulators.

The former CEO of the major crypto exchange Binance, Changpeng “CZ” Zhao, will also resign as chairman of the board of the U.S.-based exchange Binance.US.

In a post to their X accounts on 28 November, Binance.US reminded that they were not a part of the $4.3 billion deal announced on 21 November between U.S. authorities, Binance and CZ. However, Zhao agreed to leave the exchange. He will “no longer be included” in the management of Binance.US and will transfer his voting rights through a proxy. As a result CZ Officially Leaving.

In the subsequent post sent from the X account, the following statements were made about the exchange:

The exchange said, “We are extraordinarily grateful to CZ for his guidance and advice over the years. Binance.US continues to be managed by our current experienced management team, led by Norman Reed.”

We wanted to provide an update to the https://t.co/AZwoBOgsqS community in light of last week’s news regarding CZ and https://t.co/IZwa5M2U8b.

As you know, https://t.co/AZwoBOgsqS was launched with the express purpose of serving United States customers in accordance with all…

— Binance.US 🇺🇸 (@BinanceUS) November 28, 2023