Binance Ceo, Cz, Resigned! Who Is Binance's New Ceo?

The resignation of Binance CEO CZ has been finalized.

According to the latest information, Binance CEO CZ has confirmed his resignation, admitting the allegations against him. As previously reported by Forbes, the possibility of CZ resigning had been discussed earlier.

The major cryptocurrency exchange Binance has agreed to pay a total of $4.3 billion in fines to the United States. This payment aims to resolve the allegations against Binance. Despite stepping down from the CEO position, CZ will continue to hold the majority shares of Binance.

Changpeng 'CZ' Zhao will not be allowed to continue in any executive role at Binance.

The U.S. government has prohibited Changpeng Zhao (CZ) from engaging in and managing activities related to Binance operations.

CZ has confirmed that Richard Teng will assume the role of Binance's new CEO.

Today, I stepped down as CEO of Binance. Admittedly, it was not easy to let go emotionally. But I know it is the right thing to do. I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for myself.

Binance is no longer a baby. It is…

— CZ 🔶 Binance (@cz_binance) November 21, 2023

CZ responded to the actions taken by the Department of Justice. In summary, he stated:

⚫️ Today, I have resigned from the CEO position at Binance. It was undoubtedly not easy to part ways emotionally. But I know it's the right thing to do. I've made mistakes and must take responsibility. This is the best decision for our community, Binance, and myself.

⚫️ As a shareholder with historical knowledge of our company and the former CEO, I will be ready to provide guidance when needed, in accordance with the framework outlined in our U.S. institution decisions.

⚫️ What's next for me?

• First, I will take a break.
• After that, I will likely engage in passive investments, becoming a minority token/ shareholder in ventures related to blockchain/Web3/DeFi, artificial intelligence, and biotechnology, according to my current thoughts.
• I don't see myself returning as a CEO managing a startup.

⚫️ I am proud to state the following in our decisions with U.S. institutions:

• It cannot be claimed that Binance misused any user funds.
• It cannot be claimed that Binance engaged in any market manipulation.

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